The Internal Revenue Service wants to make it easier for financially distressed homeowners to sell or refinance their residences. The agency said on Tuesday that it will speed up the process of "subordinating" federal tax liens - basically moving them down the line so the primary mortgage holder can take precedence. Otherwise, such liens could block the process of refinancing or restructuring a loan.
Full article here at San Francisco Chronicle:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/12/17/BUL814PEF5.DTL
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