Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Real Estate Law (https://www.askmehelpdesk.com/forumdisplay.php?f=29)
-   -   Does a Federal Tax Lien get paid when a home is foreclosed on? (https://www.askmehelpdesk.com/showthread.php?t=156869)

  • Nov 28, 2007, 09:02 AM
    Amydefeo
    Not Expert Advise
    Not expert advise
  • Nov 28, 2007, 09:13 AM
    ScottGem
    Depends. The bank will be the primary lienholder. So if they foreclose and auction the house off, then the balance owed will go first to them. If there is any left, then it goes to the lien.
  • Nov 28, 2007, 09:16 AM
    excon
    Hello Amy:

    I don't know if the IRS get's theirs first or the bank. However, as far as YOU'RE concerned, it doesn't matter. If the IRS gets paid off and the bank doesn't, the bank will sue you. If the bank gets paid and the IRS doesn't, the lien will follow you until it DOES get paid.

    excon
  • Nov 28, 2007, 10:03 AM
    ScottGem
    Quote:

    Originally Posted by Amydefeo
    Not expert advise

    It appears you edited your original question to the above. I don't understand why. But the advice you have gotten was accurate. A mortgage holder has a first lien. I don't think even the IRS can supercede that. So the bank gets first crack at the proceeds from the sale.

  • All times are GMT -7. The time now is 01:59 PM.