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Old 04-09-2009, 10:18 AM
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Default Mortgage foreclosure and tax leins?

My In-laws now in there mid 60's, they owe money on mortgage roughly about 325,000,00. they owed a business for the past 30 and they past 10 many problems have arised due to him, a accident that put him in a hospital for 2 years but still needed to run the business, they took out a loan against their house a few years back to pay off old federal and state taxes, but I guess it ws not enough, they closed the business and now they are gong into foreclosure and have many tax liens on the property, they will be living with us once the foreclosure goes into effect, my question is once the house goes into sheriff sale does the person buying the house responsible for the back taxes since there is a lien on the property? I am sure the house will not sell for the amount on the mortgage but I am not sure how this all works. The house has also been on the market for 6 months but no hits, Any help would be greatly appreciatedAdditional Details:Update. Their home is in foreclosure due to non payment of Mortgage. There are tax liens on the home from federal and state..How does this work when the house is foreclosed? thanks for the answers
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