Posted on: 21st Sep, 2009 03:22 pm
I have a lien from the IRS. The house that I have been living in with my partner for 13 years is up for foreclosure. Could she put the deed in my name? Would this benefit me if the house short sale or goes into foreclosure. Would my lien go away becasue it would fight with the bank to keep what I owe the IRS? Would this affect my partner?
Hi Xdonate,
As the property is already into foreclosure, it would not be a good idea to transfer it in your name. This could be considered as a fraud by the lender. If the property is sold off in a foreclosure auction, the IRS lien will be satisfied first. As far as the deficient amount on your mortgage is concerned, you will have to pay it off.
As the property is already into foreclosure, it would not be a good idea to transfer it in your name. This could be considered as a fraud by the lender. If the property is sold off in a foreclosure auction, the IRS lien will be satisfied first. As far as the deficient amount on your mortgage is concerned, you will have to pay it off.