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May 24, 2012, 10:08:59 PM

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Real Estate Investing Forums  |  Real Estate Investing  |  Foreclosures, Short Sales, Tax Foreclosures, Tax Liens Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Serious problem with IRS tax purchase. HELP!!! « previous next »
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babalu
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« on: July 05, 2004, 11:46:18 AM »

We bought our first investment property after 5 months of trying, an IRS tax lien house on auction block. We knew it had a first lien against it. The IRS supervisor advised me not to pay entire thing but to contact bank, bring payments up to date and keep up to date till 6 mo. redemption period over. Not a problem, so we thought! Bank REFUSES to cooperate. Says we don't have right to loan info or right to make payments. Finally in desperation, I said I did have right to pay off whole thing to protect investment. Bank lady, who changes her story and lies like a banchy, said that would be ok. Now my lawyer tells me if I do that and former owner redeems, I am out of the money for bank loan w/no recourse. Last lie bank lady told my lawyer's aide is that we had a conference call, her, me, IRS. That never happened! But now she tells this legal aide that the matter is in their foreclosure department for discussion, I gathered to determine if I even have the right to pay off or if they are going to foreclose.  :-[ HELP! I need some advice from someone who's been here.
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DariusBarazandeh
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« Reply #1 on: July 13, 2004, 01:55:19 PM »

I hope things are working out on this deal.  We spoke last week about it. Please update us.
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Warmest Regards,
Darius M. Barazandeh, JD/MBA
www.theinformedinvestor.com
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« Reply #2 on: June 10, 2005, 08:27:58 AM »

balalu, did you find any resolution to this?
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Real Estate Investing Forums  |  Real Estate Investing  |  Foreclosures, Short Sales, Tax Foreclosures, Tax Liens Forum (Moderators: $Cash$, Bluemoon06, kdhastedt, Mdhaas, motivatedceo)  |  Topic: Serious problem with IRS tax purchase. HELP!!! « previous next »
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