IRS TO SUBORDINATE FEDERAL TAX LIENS
The Internal Revenue Service (IRS) last week announced it is "subordinating" federal tax liens and allowing primary mortgage holders to take precedence when a mortgage is refinanced or the home is sold. The new IRS program allows homeowners to refinance or sell a home without first having to pay any federal tax liens. However, the IRS is not forgiving the debt and homeowners must pay any back taxes owed.