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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: More details please... Posted by Bill H on November 26, 2009 at 6:47 PM In Reply to: Re: More details please... posted by jeffb on November 26, 2009 at 6:41 AM : It is a property Tax Lien. : The mortgage came first. : The property is in Ohio. : Thanks! : : Need some answers before we can tender answers... : : What kind of tax lien??? Is it a property tax lien or an IRS lien? : : If it is an IRS lien was it recorded before or after the mortgage was recorded? : : What state jurisdiction are you in? : : : : ----------------Ward : : ==================== : : : I have a first for me. : : : If I foreclose on a house due to an unpaid Tax lien I purchased and it has a mortgage on it, What happens to the Mortgage? : : : Is the family stuck to pay it, does the Bank lose out or do I get stuck with it? : : : Most everything I find or people I have talked to have not had to deal with a mortgage on a property. : : : : : : Thanks everyone. It is a property Tax Lien....Clarify this....state, city, county, tax lien or IRS? The mortgage came first....If the mortgage is first...Clarify this also....Tax Liens do not get recorded until they exist....HOWEVER...they become superior upon recordation. SO, is it really a tax lien? Did you purchase it at a tax lien sale? The property is in Ohio. Have not checked Ohio statutes lately and frankly do not remember....BUT.. a pure tax lien is in every state that I can think of...SUPERIOR...to any other liens or encumberances. It normally wipes from title the underlying junior liens. The IRS will have an automatic 120 day right of redemption....REGARDLESS..of it's position. Once the mortgage lender becomes aware of it, the most common complaint you will get from the morgage lender is "I was not properly notified." Even though you have the green certified return card signed by their employee and returned. Some will negotiate with you to pay you off. Some like to play hardball. Then it depends on who the judge is and how he happens to feel that particular day. I can show you cases where the tax lien investor went before the judge, had the certified letters, the deputy who actually served the owner, the owner admit that he was served and just failed to pay....and....still the judge gave it back. Then, on the other hand, I have had no one show up, happens a lot, and thejudge just says...judgement for the plaintiff...and it is yours. A very fascinating game that I play a LOTS! Good Luck, Bill H Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : It is a property Tax Lien. : : The mortgage came first. : : The property is in Ohio. : : Thanks! : : : : Need some answers before we can tender answers... : : : What kind of tax lien??? Is it a property tax lien or an IRS lien? : : : If it is an IRS lien was it recorded before or after the mortgage was recorded? : : : What state jurisdiction are you in? : : : : : : ----------------Ward : : : ==================== : : : : I have a first for me. : : : : If I foreclose on a house due to an unpaid Tax lien I purchased and it has a mortgage on it, What happens to the Mortgage? : : : : Is the family stuck to pay it, does the Bank lose out or do I get stuck with it? : : : : Most everything I find or people I have talked to have not had to deal with a mortgage on a property. : : : : : : : : Thanks everyone. : It is a property Tax Lien....Clarify this....state, city, county, tax lien or IRS? : The mortgage came first....If the mortgage is first...Clarify this also....Tax Liens do not get recorded until they exist....HOWEVER...they become superior upon recordation. SO, is it really a tax lien? Did you purchase it at a tax lien sale? : The property is in Ohio. Have not checked Ohio statutes lately and frankly do not remember....BUT.. a pure tax lien is in every state that I can think of...SUPERIOR...to any other liens or encumberances. : It normally wipes from title the underlying junior liens. : The IRS will have an automatic 120 day right of redemption....REGARDLESS..of it's position. : Once the mortgage lender becomes aware of it, the most common complaint you will get from the morgage lender is "I was not properly notified." Even though you have the green certified return card signed by their employee and returned. Some will negotiate with you to pay you off. Some like to play hardball. : Then it depends on who the judge is and how he happens to feel that particular day. : I can show you cases where the tax lien investor went before the judge, had the certified letters, the deputy who actually served the owner, the owner admit that he was served and just failed to pay....and....still the judge gave it back. : Then, on the other hand, I have had no one show up, happens a lot, and thejudge just says...judgement for the plaintiff...and it is yours. : A very fascinating game that I play a LOTS! : Good Luck, : Bill H [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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