Ward at front door

InnoVest Resource Management's

Foreclosure Forum

Discussion Board

Foreclosure Training

Title Holding Trust

Speaking Schedule

Foreclosure Codes

50 State Foreclosure Basics

Foreclosure Glossary

60+ Yrs Interest Rates

News & Trends

FAQ

Dingbat Retirement Plan

Links

Contact / Map

Home

 

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ]

Re: Two ROR's (AL and the IRS)!!

Posted by Ward-CA- on February 02, 2002 at 8:43 AM

In Reply to: alabama posted by carol on February 01, 2002 at 4:36 PM

: i have been trying to buy a house that has been foreclosed on a few months ago and apparently has an irs lien in alabama. now there is some question of right of redemption. apparently the prior owner is spreading the word to sell this under my feet when i already have a contract on it but have not closed yet. it seems an attorney handling one of the liens is trying to take it. can someone explain this to me in easy to understand terms. i really want the house but i am a single mom and cant get involved in a big mess. this will be our home, not an investment. thanks

=•=•=•=•=•=•=•=•=•=•=

Carol, seems like you have two different Right of Redemptions (ROR) here. One is the year long ROR the property owner has according to AL law (see link below). The other is the 4 month ROR that IRS has according to federal law. In either case you have time to try to firm up your contract with the seller or perhaps approach IRS and volunteer to be their “guaranteed bidder”. To learn more about it contact the revenue agent that is listed on the federal tax lien that was recorded against the name of the defaulted owner (available free from your local title company’s customer service department).



Follow Ups:


Post a Followup:

Name    : 
E-Mail  : 
Subject : 
Comments: Optional Link URL: Link Title: Optional Image URL:


[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ]

WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Our home page is at http://www.foreclosureforum.com

Copyright © 1997-2002, InnoVest Resource Management

InnoVest Resource Management, 4569-A Mission Gorge Place, San Diego CA 92120-4112
(619) 283-5444, Fax (619) 283-5455

[an error occurred while processing this directive]