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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Federal IRS Tax Lien amount is Huge!!!! Posted by Mirela on November 09, 2003 at 11:07 PM Hi, I need lots of advise. I didn't do my research and I bought a property in Oregon. I bought the 2nd. mortgage of $40,000 at a foreclosure sale and not the 1st. which is $106,000, as well the property has a federal tax lien of $113,000. I know about the IRS ROR which is 120 days, but my question is what should i do? Should I submit for a certificate of Discharge or just wait the 120 days to expire. If I should see if the IRS will discharge it then how can i show them that the ex-owner has no interest in the property since his name is showing on the senior loan. I reinstated the 1st.because it was going to be auctioned in 3 months before the IRS ROR expires. Should I go ahead and assume the 1st. or just make payments on it to keep it current and wait for the ROR to expire. Please help me with some of your great advice, Thanks a lot in advance, Mirela Follow Ups: Yipes!! Put away your checkbook... Ward-CA- 8:09 AM, 11/10/03 (0) Re: Federal IRS Tax Lien amount is Huge!!!! Mirela 11:09 PM, 11/09/03 (1) Did trustee notice IRS prior to sale in timely manner realtor 4:24 PM, 11/11/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : Hi, : I need lots of advise. : I didn't do my research and I bought a property in Oregon. I bought the 2nd. mortgage of $40,000 at a foreclosure sale and not the 1st. which is $106,000, as well the property has a federal tax lien of $113,000. I know about the IRS ROR which is 120 days, but my question is what should i do? : Should I submit for a certificate of Discharge or just wait the 120 days to expire. If I should see if the IRS will discharge it then how can i show them that the ex-owner has no interest in the property since his name is showing on the senior loan. : I reinstated the 1st.because it was going to be auctioned in 3 months before the IRS ROR expires. Should I go ahead and assume the 1st. or just make payments on it to keep it current and wait for the ROR to expire. : Please help me with some of your great advice, : Thanks a lot in advance, : Mirela 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

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