homedepot asked:
i am a first time (or hope to be) home buyer, and i have a tax lien on me, however i am classified ‘currently non collectible’ by the irs. so in short,how does this effect my chance of getting a mortgage loan. also, the tax debt is not even in the 5 digits, it that even matters. thanks!
TRUMAN
i am a first time (or hope to be) home buyer, and i have a tax lien on me, however i am classified ‘currently non collectible’ by the irs. so in short,how does this effect my chance of getting a mortgage loan. also, the tax debt is not even in the 5 digits, it that even matters. thanks!
TRUMAN
HIRAM
they normally need to be satisfied in order to get a loan
Comment by Rick K — December 15, 2009 @ 3:49 pm
GIL
You would have what creditor’s concider “high risk” credit and your loan may have a higher interest rate because of it. Depending on how old the lien is, you can write to the IRS for a copy and go check your local county court house for a copy of the lein. It could be a “self releasing” type and can be removed from your credit report.
Comment by aylatroy2 — December 19, 2009 @ 12:06 am
ISAAC
Any lien that could effect title of the home would be required to be paid off. It will really depend on the title company and if they pull up the lien against you when they do their search. Of course if it is already showing on your credit report then you will be stuck paying it off too.
Comment by flamingojohn — December 20, 2009 @ 7:54 am
JACKIE
maybe i am missing something here… but your noncollectable by the irs then how do you think you can qualify for a mortgage ?
something is missing here, you have the money to put down but yet the irs knows nothing of it ? I would not announce that too loud on the internet they may just be watching….
Comment by loslunas87031 — December 20, 2009 @ 8:46 am
AUSTIN
If the lender sees it you would not get the loan. Federal tax liens are serious and is a big low blow to your credit score. If you can’t afford 4 digits of debt, why should the bank give you 6?
Comment by staceyreyes01 — December 22, 2009 @ 5:41 pm