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How is a Federal Tax Lien handled when there is no equity in the property?
Bchnca
If you do not pay your taxes and this tax lien doesn't result in enough to pay your back taxes, they will find some other way to get you to pay your taxes. Eventually, if you don't pay you may be arrested.
Bad AnswerThe above is a comment and not an answer.Wiki User
∙ 11y ago
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Can a credit card company file a judgment lien against your house if there is no equity in the property?
Yes.
Can a property lien br transferred to the next property?
Generally, a lien usually stays on the property against which it was recorded. The exception is state and federal tax liens which attach to after-acquired property.
Why would the second lien holder foreclose?
It's simple. The second lien holder will foreclose if you don't pay that debt and it thinks there is enough equity in the property to take possession subject to the first lien.It's simple. The second lien holder will foreclose if you don't pay that debt and it thinks there is enough equity in the property to take possession subject to the first lien.It's simple. The second lien holder will foreclose if you don't pay that debt and it thinks there is enough equity in the property to take possession subject to the first lien.It's simple. The second lien holder will foreclose if you don't pay that debt and it thinks there is enough equity in the property to take possession subject to the first lien.
Can a seller transfer a deed to the buyer if a federal tax lien is against the property and can the property be settled?
NO. You cannot transfer the ownership of the property UNTIL the lien is paid off, in full.
Can you get a home equity loan on your rental property?
If you are renting the property from someone else and do not own it, no, because a home equity loan is like a mortgage. The lender has a lien on the property if you default on the loan. If you are the owner of a property and rent it out, yes you should be able to get a loan with the property as security.
How do you get a payoff figure on existing equity loan for sale of real property?
Contact the lien holder. A simple phone call.
Can a creditor place a federal tax lien on your property?
No, only the IRS can take that action.
How does one apply for the withdrawal of a Federal tax lien?
A federal tax lien is the government‰Ûªs legal claim against your property when you neglect or fail to pay a tax debt. The lien protects the government‰Ûªs interest in all your property, including real estate, personal property and financial assets. A federal tax lien exists after the IRS: Assesses your liability; Sends you a bill that explains how much you owe (Notice and Demand for Payment); and You neglect or refuse to fully pay the debt in time. The IRS files a public document, the Notice of Federal Tax Lien, to alert creditors that the government has a legal right to your property.
How long does an unpaid tax lien expire?
It depends on the type of lien. A lien for unpaid property taxes does not expire. A lien for federal income taxes lasts ten years plus a grace period for rerecording. State income tax liens vary in their statutes of limitations.It depends on the type of lien. A lien for unpaid property taxes does not expire. A lien for federal income taxes lasts ten years plus a grace period for rerecording. State income tax liens vary in their statutes of limitations.It depends on the type of lien. A lien for unpaid property taxes does not expire. A lien for federal income taxes lasts ten years plus a grace period for rerecording. State income tax liens vary in their statutes of limitations.It depends on the type of lien. A lien for unpaid property taxes does not expire. A lien for federal income taxes lasts ten years plus a grace period for rerecording. State income tax liens vary in their statutes of limitations.
How do you put a lien on a house with out equity?
Equity has little effect upon a lien. It just records the fact that someone has a claim to certain value in the property, regardless of who owns it or who has equity. In theory you can buy and sell land without any effect upon the liens, as long as the buyers are aware that they are getting encumbered title.
Can you transfer the lien from your home equity loan to another property you own?
No, you cannot "Transfer" the loan. But you can take out a loan on the other property and use it to pay off the first.
Can you get a new mortgage after you pay off the lien on the house?
Generally yes, if you qualify as to your ability to pay and your credit score and if there is equity in the property.
