Tax Lien on Property

Tax Lien on Property

Having a property tax lien doesn't mean you can't sell your house


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 losing your home.   The IRS wants to expedite the process of dealing with residential tax liens.  They hope doing this 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. The IRS recognizes that speeding up that subordination process could save many homeowners from losing their property.

For those with property tax problems who are 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 option has been made available and currently takes up to thirty days.  Be clear with your lender about the property tax help you're seeking; they may even know of 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 times, the government  is constantly adding new programs to aid homeowners.  You can also 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 whatever reason, they can shift claim on that taxpayers' other assets.

Let me help you with the Sale of your home. 

Help for Foreclosure

If you want help when foreclosure possibilities are imminent, please complete these five steps before contacting your lender. You are asking them for their time and help, so be organized and ready. This will also show the lender that you are taking the situation seriously and 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)
5.) Counseling advice may be needed: www.hud.gov and check them with www.bbb.org first

How to Stop Foreclosure

1.) Contact your Lender
2.) If you have received a delinquency 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 service you are considering with www.bbb.org and see HUD for a list of approved Counselors
7.) Hardship Letters
8.) Lien on Property  - Help

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

    

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