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IRS TO SUBORDINATE FEDERAL TAX LIENS

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This entry was posted on 12/31/2008 10:13 AM and is filed under Real Estate.

The Internal Revenue Service (IRS) last week announced it is "subordinating" federal tax liens and allowing primary mortgage holders to take precedence when a mortgage is refinanced or the home is sold. The new IRS program allows homeowners to refinance or sell a home without first having to pay any federal tax liens. However, the IRS is not forgiving the debt and homeowners must pay any back taxes owed.

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From Wednesday, December 24, 2008 C.A.R. Newsline

Reprinted with permission of the CALIFORNIA ASSOCIATION OF REALTORS®

 

 

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