ILLMAS Posted May 6, 2010 Report Share Posted May 6, 2010 TP has a tax lien, he has a investment property going on a short sale, TP wants for the IRS to take the money owed to them from the property if it sell. Will this happen once the property sells, I am afraid the bank will even lose more money + add on more taxes due from TP. Your thoughts. FYI TP has no money to pay. Quote Link to comment Share on other sites More sharing options...
Catherine Posted May 6, 2010 Report Share Posted May 6, 2010 TP has a tax lien, he has a investment property going on a short sale, TP wants for the IRS to take the money owed to them from the property if it sell. Will this happen once the property sells, I am afraid the bank will even lose more money + add on more taxes due from TP. Your thoughts. FYI TP has no money to pay. Ummm -- today is the National Day of Prayer. Does that help? (Sure can't hurt!) Quote Link to comment Share on other sites More sharing options...
jainen Posted May 6, 2010 Report Share Posted May 6, 2010 >>TP wants for the IRS to take the money owed to them from the property<< IRS generally doesn't like to that, for a number of good reasons. They might release their lien to allow a short sale, however, especially if the taxpayer owns other real estate. Tell the Realtor to work it out with Title Officer, or nobody will make any money on the sale at all. Quote Link to comment Share on other sites More sharing options...
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