Collections Law/home tax lien

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Question
i owe taxes on my house and they are telling me they are going to sell the lien.  The house is paid in full/no mortgage.  i understand i owe taxes but i have no idea what it means when they sell the lien.  Will someone else own my home? And do i get any money for the house?  It is paid for.  i only owe taxes.

i was hoping you could provide a site that explains this. i've looked but i have not found any that answers my questions.

i understand i owe taxes but i own the house outright.

Answer
Hi Regina,

If they sell your tax lien to someone else, that just means that someone else owns the debt. You still own your home however, the new lien holder can foreclose on your property in order to get paid back on the debt.

So you need to do one of the following 2 options. The first is pay the taxes, borrow the money to pay the taxes if you have to. The second option is to sell the home for maximum profit and you will keep any profit after all taxes are paid.

There is a 3rd option. You can let the lien holder foreclose on your property to pay the taxes and then they will own your home or someone else will who picked it up at the court house steps. With this scenario, the taxes will be paid but you will lose some if not all of your hard earned equity.

I hope that I was able to help.

Thanks
Brian

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Brian Pitcher

Expertise

I can answer all questions related to Residential Real Estate. In particular I am an expert in the loss mitigation side. I meet with multiple homeowner on a weekly basis and guide them through the issues of being upside down on their mortgage and what they can do to better it. I can answer questions on Loan Modifications, Short Sale, Foreclosure, Strategic Default, Deed in Lieu. I can also answer questions on the buyer/investor side of things in regards to homeownership or home flipping. I can also answer questions regarding the 1099C or cancellation of debt that homeowners get from a short sale or a foreclosure.

Experience

I run a team of agents called the Pitcher Group, out of Salt Lake City. We specialize in Short Sales and helping sellers get out of tough situations. We have closed over 100 short sales in the past 3 years with our team. I also am an owner of a Short Sale Negotiation company that helps process short sale transactions for Real Estate Agents all across the country. I understand the investment side of Real Estate as I have bought and sold many rental type homes over the years. I also rehabilitate homes and flip them. We usually have 1 to 3 properties going at any given time. Our completion time from bought to sold is usually less then 4 months.

Organizations
I am a member of the national Association of Realtors on the national level and the Salt Lake board of Realtors on the local level. I am a member of the Short Sale Specialist Network as well as multiple short sale mastermind groups locally and nationwide.

Publications
The Short Sale Specialist Network www.savemyutahhome.com The Truth about Short Sales, Loan Modifications and Foreclosures (an ebook that I wrote)

Education/Credentials
Bachelors Degree from the University of Utah in Spanish with an emphasis in Economics. Specialized and on going study of loss mitigation tactics revolved around the banking industry and real estate including FDIC.

Awards and Honors
Bronze Home sales award in 2008 for Keller Williams Gold Home sales award in 2009 For Keller Williams Triple Gold Home sales award in 2010 For Keller Williams Triple Gold home sales award in 2011 For Keller Williams Top Sales agent individual award in 2010 For Keller Williams I have been asked to speak and teach other realtors how to handle short sales for Keller Williams International and also at my local board of Realtors.

Past/Present Clients
I have over 100 successfully closed short sale transactions.

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