Lien on Property

Lien on Property

There's an IRS lien on your property
What can you do?

If you have a lien on your property you should not ignore the IRS. This is not a bill you can just wish away. The end result of a property tax lien can mean losing your home. The IRS Commissioner wants to streamline the process it's using to deal with residential tax liens. They hope that by doing this many home owners be able to keep their homes.

When a homeowner is faced with tax trouble, they are allowed to request that the Federal tax lien be made secondary to the loan's lender. This lien subordination makes the lender more willing to provide a loan, since they are listed as first priority.

For those with property tax problems and considering selling your home for less than the existing mortgage, the IRS can also discharge the tax lien. They are making every effort to avoid getting in the way of homeowners trying to refinance or sell their home. This is now available and currently taking up to thirty days. Be clear with your lender on the property tax help your seeking; they may even know of some state programs that could help you.

Application: for a Certificate of Subordination of Federal Tax Lien and learn how to prepare one see: Federal Tax Lien 784

Your lender may want: Certificate of Discharge of a Tax Lien Form 783

Submit Request: Type a letter of request and documentation to One of the Collection Advisory Groups listed on the bottom of their page. Form 4235

In these difficult economic times the Government is constantly adding new programs to aid homeowners. Never forget to contact your State Representative for information about any program you may currently qualify for. Representative

While a Tax Lien discharge sounds like you are debt free, think again. They are only releasing their claim on the taxpayer's home to make refinancing or selling possible. You will still be responsible for the taxes that are due.

A Notice of lien on property will be issued only if they cannot contact you. Please don't ignore them, you may be able to avoid doing all the work listed above. If they remove a tax lien on a residence for whatever reason, they can shift claim on that taxpayer's other assets.

Another resource to get help with a Short Sale of your home in the Toledo area can be found through a good real estate agent with experience.

Contact Information

Photo of Victoria's Luxury Home Team Real Estate
Victoria's Luxury Home Team
The Danberry Co. Realtors
3555 Briarfield
Maumee OH 43537
Cell : 419-460-5587