If you have an IRSlein on your house, what happens to the lein if the house is forclosed on?
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If you have an IRSlein on your house, what happens to the lein if the house is forclosed on?
Asked on December 9, 2010 under Real Estate Law, Pennsylvania
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
Well, it depends on whether or not there is enough money to cover all the encumbrances - mortgage and liens - on the property. If there is enough to pay the mortgage holder and the IRS then the lien is released. If , however, there is not enough to pay the IRS the lien is not wiped out. Instead, the IRS will come after you for the money in another way I am sure. You should consider seeking help with all of these issues here. You should see about modification of your loan and you should seek help in settling the IRS debt with a monthly installment plan. IRS debt is also not wiped out in a bankruptcy. Get help. Good luck.
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