home loans – mortgage refinance second mortage

December 15, 2009

how does a tax lien effect you getting a mortgage loan?

Filed under: Renting & Real Estate — Tags: , , , , , , — admin @ 5:10 am
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

August 19, 2009

20% cost of my home was financed thru personal installment loan. is the interest tax deductible?

Rohit D asked:


80% of the cost price was financed thru mortgage loan. So I have two notes, mortgage and installment loan. Can the interest on the installment loan tax deductible? If so can you please also provide reference to the source preferably IRS.

LANCE

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