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WA Personal Loans

Federal Tax Lien Priority: Over Your Mortgage?

by: Anthony Parent

Yesterday, a customer asked us if there have been a scenario for which a Federal Tax Lien concern would ever be more than a existing home loan. We thought it was a great opportunity to discuss federal tax liens and how they work in relation to previously recorded liens and mortgages while we believed that as a matter of public policy that the Federal Tax Lien priority never would.

1. So How Exactly Does Federal Tax Lien Priority Work?

A concern lien, after costs and home fees, are liens which have ‘priority under federal law’, such as for instance mortgages along with other asset that is secured.

Possibly that does not assist much, so think about liens a a deck of cards. The Ace may be the greatest. That could be very first home loan. In the event that you have 2nd home loan, that second home loan is the King.