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i am retired and took the cash buy-out invested in a scammer

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lw9386 Joined: 24 Jan 2009 Posts: 1 1.31 Dollars($)	Posted: Sat Jan 24, 2009 3:41 pm    Post subject: i am retired and took the cash buy-out invested in a scammer Like 0 Dislike 0 i am retired and took the cash buy-out invested in a scammer lost over 200,000 dollars and now havin...g difficulties paying my house which is neg amortized loan I owe the IRS over 100,000 and the state of califorinia over 33,000 dollars. i have laywers who don't appear to be currently helping me , i need my house what in the world should i do. i never used any of the 200,000 that the IRS is taxing me on . What should i do ?
jerry Moderator Joined: 17 Oct 2005 Posts: 2708 Location: MICHIGAN 429.63 Dollars($)	Posted: Mon Jan 26, 2009 1:48 am    Post subject: Like 0 Dislike 0 Hi lw, If you want to save your property, then you will have to clear off the liens and also keep on paying the mortgage dues on time. If you do not, then the lender may foreclose the property. However, if you can afford to sell off the property, then you may contact the lender and speak about short shale or a deed in lieu. However, you should note that you will have to pay off the IRS lien otherwise you may not get good buyers. Thanks, Jerry

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