Updated over 11 years ago on . Most recent reply
IRS lien in second position
If a lender in first position forecloses on a property at a traditional courthouse sale, will a second position IRS lien get wiped out? I'm guessing the answer is the same in all 50 states.
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
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It may be state specific, if you have some weird laws, but generally the IRS has 120 day right of redemption, meaning they could come in and repay you the purchase price, rescinding the sale ...probably as common as a unicorn riding on a pink elephant, but possible.