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Answers (6)
- Justin Kennedy
- Contributions:692
FHA - tax lien, you need to have payment plan set up by the IRS with 3-6 months of payment history. in addition, IRS need to address in wriitng thier subordination to the 1st trust deed. the new payment must be included in the qualifing ratios.
- jzparker
- Contributions:53
It is possible to get a FHA purchase mortgage with a tax lien open, at least in the state of Maryland. Everything else about your file would have to be very strong and you would need to show that you have been making payments on the tax lien for quite some time (at least 1 year). Other states may not allow this, but MD purchases do not require a judgement/lien search on the buyer and the lender is automatically in first lien position on a purchase. However, if you ever tried to refinance, the lien would prohibit you from doing so until it was paid off.
- Marney Kirk, "realtormarney"
- Contributions:251
All title must be clear in order to be able to clear & close. The best resource would be to talk to both a title attorney and a tax attorney to see how this could be solved.Good luck!Sincerely,Marney Kirk
- Brian Brady
- Contributions:117
No.
No, Anything that could affect the lenders position on the title of the home has to be cleared up prior to closing.
- Martin Wareing, "Martin Wareing"
- Contributions:3772
My guess (I do not originate FHA LOANS) is no. It is no with FNMA and FHLMC, but FHA is a US govt loan and a person who owes the IRS (US GOVT) wants the GOVT to guarantee their home loan although they did not pay the GOVT the income taxes owed. Makes very little sense to me, but I'm sure a rescue 911er may show up to come up with a plan. Good luck to you.
Can a person get an FHA loan purchase or a title 1 fixup loan with a Tax Lien on their credit report
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