IRS Auctioning 620 VWL points?

[WOW]

that sounds like an over-reaction to what WOW was saying. I don't personally see anything there that should make you ask if WOW thought he/she were God like.

Thank you very much DVC convert....I certainly wasn't trying to offend anyone. I was only giving a brief explanation on bankruptcy.

Of course, I have always thought that if people were in trouble, death, illness, loss of job and so on, that there should definately be an avenue where they could wipe their slate clean and get a fresh start. That is why the bankruptcy laws were started. It is when it is abused that I feel it is wrong.

I don't know where OFFTHEICE was coming from, but obviously when some one goes bankrupt, there is a lot of debt that hasn't been paid. Which means that some company (credit cards, mortgage companies, medical treatment and the list goes on and on) has taken a loss, which means that they have to make it up somewhere......guess who, us, the consumers!!!!!

 

[greenban]

There are only 8 use years.

Shhhh!

It was a concerted 1-2 misleading punch!

Shhhh!

-Tony

 

[TheRustyScupper]

1) We have bought rental property from IRS sales.
2) Here is how it worked
. . . we did bid for the property at the IRS auction
. . . we did owe the IRS the agreed bid price
. . . we did owe the mortgage company the remaining balance
. . . we did not owe the other encumbrances (taxes, assessments, fees)

NOTE: We did not owe other than the mortgage, because the mortgage was a "secured" interest. Although the county and city wanted their fees and assessments, those were not considered "secured".

 

[FertilityDoc]

Congratulations on the auction. You still got a reasonable price on the deal at a shade over 72.50/point even with the potential lost points. I did receive conflicting information as to whether DVC could still exercise ROFR on the IRS foreclosure. Let us know how it all works out in the end.

 

[robinb]

Oh please! I am sure you take advantage of somethings that hurt people some time or some place down the road. People lose jobs ,divorce and so on .

{shrug} Both of the resales I bought were due to divorce. I did not feel that I was taking advantage of them. In fact, I was helping them dispose of an asset for them to split.

 

[zalansky]

{shrug} Both of the resales I bought were due to divorce. I did not feel that I was taking advantage of them. In fact, I was helping them dispose of an asset for them to split.

How did you find out about those resales?