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Got 2nd. lien with an IRS redemption right

Posted by Mirela Nelson on October 23, 2003 at 0:17 AM

Hi
I bought 2nd. lien at a trustee auction of (40k) with an IRS Redemption right(113K).
The 1st.(99k) is going for auction in one month.

My question is should I assume the 1st?
Should I bring the 1st. to current to postpone the auction date?
Should I wait until it goes to auction and bid on it?

What advice can you give me to protect my 40k and possibly make some extra.

Thanks in advance for your help, I'm desperate.

Mirela



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