My husband got this certificate. From his first marriage, he came with these tax debts. He just finished paying one of them (dont know how much).
The certificate says: "this office certifies that the taxpayer, under section 6325 of IRS has satisfied the taxes listed below and all statutory additions. Therefore, the lien provided by Code section 6321 for these taxes and additions has been released. The proper officer in the office where the notice of internal revenue tax lien was filed on -may 15, 2002-, is authorized to note the books to show the release of this lien for these taxes and additions."
Also, the certif shows below that the UNPAID balance of assessment is @ ,000, and the last day for refiling is @ 2012.
I am confused. what is it all about? does he have to pay this, and if yes, in how long? does this affect credit score?

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My husband had financed/purchased a property with his own name. However, he listed me on the deed. The home is now in foreclosure preceedings and I am worried that if I don’t pay the property taxes for that property that I am liable for the taxes and it will impact my credit score and ability to rent. Also, if a property tax lien is placed on my credit - how does that work. Do they place it for every missed tax payment?

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I am very interested in getting into the real estate market. I had planned to deal with sub prime buyers. However the recent news about the sub prime market has changed my mind. I have an idea, and I am curious what some real estate people think about it! I have the credit score to be able to invest in real estate properties. I am thinking that I can finance residential properties, and then turn around a finance them myself to a buyer via a contract for deed, or something similar. I am figuring I can clear 0-0/month per property.

Here is what I think are the benifits…

1.) I don't have to maintain the property like I would if I rented it.
2.) I get a down payment so the buyers are more likely to stay in the house, and should have a lot higher retention rate.
3.) I build a residual monthly income.
4.) If I do take back a house, I refinance it for another 30 years
5.) The buyer will be responsible for all taxes, insurance, etc.

So what do you think? Good or Bad Idea
I think the people would be more likely to stay as they would be buying the house, and they would have an initial down payment tied up in the house.

Personally if I have to take back the house thats fine, I just don't want to do it every couple of months like with renting…I think doing it this way most people would stay in the houses 5-7 years before they default.

I know my uncle made millions by financing land like this in south georgia.

I also think it comes into investigating the people your selling too, check them out and make sure they half way decent people with a good job history. I also plan on staying with the lower end houses to start with, so I don't have so much tied up in each property.

But, please keep the opinions coming…and thanks!

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