The borrowers, Owen Big and Penny Less, needed to consolidate some of their debt. Penny failed to pay her income taxes and Owen defaulted on a credit card. The IRS had levied their property and a creditor had a judgment, which was also attached.
The Release of Levy and the judgment were both subordinate to a first and second mortgage. They needed every last cent of the equity in their home to consolidate these outstanding debts. Unfortunately, they did not have enough equity in their home.
They enlisted the assistance of Faked Out Tax Services, LLC to assist in negotiating a release of the IRS