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    mardi24's Avatar
    mardi24 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Nov 10, 2010, 03:58 PM
    Can my home be foreclosed on with IRS lien
    If the banks foreclosure wipes out the IRS lien does it mean I no longer owe the IRS.
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    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
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