USA And IRS As Defendents???
Recently I was approached by a friend of mine trying to help me find some properties in foreclosure. The lady which she referred me to is very eager for any help I can give her and when I reviewed her paperwork, the United States of America and the IRS was listed as defendents...what does this mean and is this a deal that I should probably steer clear of?? Thanks for any and all input!
P.S. Her home is in a wonderful neighborhood, avg market value is about $260,000 she has 3 mortgages on the home and owes total $230,000. The first mortgage holder is the one imposing foreclosure.
Best wishes everyone,
Teli
There are leins against the property most likely for unpaid income taxes.
This can be a real bugger if they are excessive and the interest compounds at a unrealistic rate.
This requires a good research at the court house!