mardi24
Nov 10, 2010, 03:58 PM
If the banks foreclosure wipes out the IRS lien does it mean I no longer owe the IRS.
ballengerb1
Nov 10, 2010, 04:15 PM
Nope, you still owe and if the bank resells your home for less than the loan amount you may owe them too. Most likely the bank will sell and the IRS takes their money from the sale, the bank will likley come up short of satifiying the loan balance and come after you for the money