Anyone with experience on getting a short sale approved with a federal tax lien??
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Anyone with experience on getting a short sale approved with a federal tax lien??
You need to be a member of Short Sale Superstars to add comments!
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IRS Speeds Lien Relief for Homeowners Trying to Refinance, Sell
http://www.irs.gov/newsroom/article/0,,id=201343,00.html
http://www.irs.gov/pub/irs-pdf/p783.pdf
Get the seller to go into a payment arrangement with the IRS and they will likely lift the lien to clear title.
Oh, also start on this tax lien right away, if I recall correctly it took 60 days for them to get the release. You can probably work on it even before you have an offer in place.
I do, although you want to team up with a tax attorney or accountant. Get documentation of the lien over to the mortgage company, generally they will agree pay something towards them, then you want to have the accountant or attorney asking for them to release the lien. They'll still owe the taxes but will likely get the release, and may end up owing less. Worth noting, is that I've heard that on an FHA loan (pfs sale) they won't start the process if their is a tax lien. I don't know that from first hand experience though.
Please come back and let us know how this went, along with who the servicer/investor/MI companies were. It's important to add to our database!