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Updated about 10 years ago,
Anyone have experience buying a house at auction with a Federal Restitution Lien?
In researching some up-coming auctions, I came across a house with a lien entitled:
“Notice of Lien for Fine and/or Restitution Pursuant to the Anti-Terrorism and Effective Death Penalty Act of 1996”
Here's a link to the Code: Title 18, US Code, Sec 3613(c)
This lien is fairly recent but the senior lien is the one foreclosing. And in researching this type of lien, it appears that it stays for 20 years… so the question is, does foreclosure wipe out this type of lien or does it have a redemption period like an IRS Fed Tax Lien or does it have some kind of special treatment?
The Restitution Lien posted is far greater than the value of the home, but I’m just curious about the process as this deal may be worth it if this lien can be wiped!