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Posted by David on November 24, 2003 at 23:39:39:
In Reply to: Fed Tax Lien preceding Mortgage - GA posted by David on November 24, 2003 at 23:37:29:
Clarifying a point or two in my original post (see below) ...
The Fed Tax Lien is for over $100K and the house market value is likely between $250 and $275 in a normal market.
Dave
: I have a first mortgage on my property for 159K, but there were fed tax liens for over $100 filed a month prior to the mortage closing when we bought the house. Do those tax liens affect this property (which was not in our name when the tax liens were filed) and if so, is that likely to complicate things for the mortgage company who has started foreclosure?
: We are talking to the bank about a workout or loan mod, but have not discussed the fed tax lien situation with them yet, but now have just a week before sale and are hoping to find some way to delay things while raising money for the workout down payment.
: Any ideas? SHould we bring up the fed tax lien in discussions with the bank's lawyers or with the loan mod bank department, or is it a given that they must already know about it, or does it matter at all?
: Thanks for any suggestions.
: Dave
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