IRS Liens

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Posted by Rich on May 05, 2008 at 15:30:14:
I have received a call from a seller who has a property that is in foreclosure. The property needs work. The property has an IRS lien against it. My question is if the seller s upside down with the property and the property goes to auction, will the IRS get their money before the lender or after? In other words, if the balance on the mortgage is $200k and there is an IRS lien for $40k and the property sells for $150k, will the IRS get their $40k and the lender gets $110k, or will the lender get the $150k and the IRS nothing? Please advise.

Follow Ups:

Re: IRS Liens Bill H 14:50:42 05/06/08 (0)

Re: IRS Liens Bill H 14:49:39 05/06/08 (2)

Re: IRS Liens Rich 04:51:16 05/08/08 (1)

Re: IRS Liens Rick, the Probate Guy 12:19:36 05/09/08 (0)

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