Many clients will come to me with multiple liens on their property. They have tried for modification and didn’t qualify. So now, they are looking into short sale. But can you still short sale with all these tax liens on the property? Yes! You can!
A borrower should never “just let the house go”. Don’t let the bank take your house at foreclosure. A foreclosure will stay on your credit report for 7 years. The better option is to “short sale” the house. A short could save your credit score 100-200 points compared to a foreclosure. Also, many banks will let you buy a new home after 12 months.
So how do you get tax liens removed? If there is no equity in the home, then the IRS and State should remove the liens from the property. You will need an experienced attorney or agent to assist you. Even liens as high as $200,000 can be removed from the property. Amazing!
Our firm is dedicated to helping clients file bankruptcy, obtain loan modifications, and helping clients get a fresh start. For more information on what First Source Law can do for you, please fill out our free evaluations for bankruptcy and loan modifications.
This post was written by Gina Berg