InnoVest Resource Management's Foreclosure Forum

Home Discussion Board "Hands-On" Training Title Holding Trust Speaking Schedule Store Foreclosure Fundamentals Code References 50 State Foreclosure Basics Foreclosure Glossary Foreclosure Statistics 70+ Yrs Interest Rates Fillable Forms Archived Articles Dingbat Retirement Plan Links Contact / Map About Us Home

[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] IRS Leins and Prior Notification by Trustee Posted by Mark H. on May 02, 2008 at 9:03 PM Recently I have noted a few properities with IRS Leins. Of course, if the Lein was filed after the foreclosuing deed of trust and the property is foreclosed upon and the IRS is notified, then the IRS has the option of taking the property back in 120 days after trustee sale. And the buyer will be repaid. HOWEVER, what if the trustee failed to notify the IRS prior to the foreclosure sale? Will the property merely retain the lein OR will the IRS take the property back from the buyer and NOT reimburse the buyer? And how hard is it to get the trustee to verify if they (or if they did not)send the required pre-forclosure letter to the IRS? Follow Ups: Mistake in giving notice and subsequent remedy... Ward-CA- 0:44 AM, 05/03/08 (2) Re: Mistake in giving notice and subsequent remedy... Ward, 3:38 AM, 05/03/08 (1) Re: Mistake in giving notice and subsequent remedy... Mark H. 3:40 AM, 05/03/08 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Recently I have noted a few properities with IRS Leins. Of course, if the Lein was filed after the foreclosuing deed of trust and the property is foreclosed upon and the IRS is notified, then the IRS has the option of taking the property back in 120 days after trustee sale. And the buyer will be repaid. : HOWEVER, what if the trustee failed to notify the IRS prior to the foreclosure sale? Will the property merely retain the lein OR will the IRS take the property back from the buyer and NOT reimburse the buyer? : And how hard is it to get the trustee to verify if they (or if they did not)send the required pre-forclosure letter to the IRS? [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

Information provided by this website is for informational purposes only and is not a substitute for professional advice. Please consult your investment advisor and/or attorney before entering into any transaction. Read our privacy policy.

Copyright © 1997-2008, InnoVest Resource Management
http://www.foreclosureforum.com

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