Tax Lien on Property
Property Tax Lien doesn't mean you can't sell your home.
If you have a lien on 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 lossing your home. IRS Commissioner Douglas Shulman wants to expediate the process it's using to deal with residential tax liens. They hope by doing this, it will enable many homeowners 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. Shulman knows speeding up that subordination process could save many homeowners from lossing their property.
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 has been available and currently taking up to 30 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
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 time the government is constantly adding new programs to aid homeowners. Never forget to contact your State Representative for 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 can not 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 what ever reason, they can shift claim on that taxpayers' other assests.
Let me help you with the Sale of your home.
Help for Foreclosure
Your to do List
You want help for foreclosure possibilities nearing your door step. Please do these 5 step before contacting your lender. Your asking them for their time & help, so be organized and ready. This will also show the lender that you are taking it very seriously & feel a workable plan can be made on your mortgage.
Help with Foreclosure takes Knowledge
1.) Know your Mortgage Loan Details
2.) Review: Hope Now
3.) Find your State Resources from Your State Government Housing Office
4.) Know your DTI (Debt to Income Ratio) Mortgage Debt Relief Page Shows how
5.) Counseling Advice may be needed: www.hud.gov & check them with www.bbb.org first
How to Stop Foreclosure
1.) Contact your Lender
2.) If you have receive a deliquency letter, it should include foreclosure prevention information
3.) Stop Foreclosure Letter
4.) The Lender should have options available
5.) Stop foreclosure- loans from other sources, accounts or another job
6.) Read Avoid Scams Blog- or check any professional servce you are considering with www.bbb.org and see HUD for a list of approved Counselors
7.) Hardship Letters
8.) Lien on Property -Help
