are there lenders that will ac

Discussion in 'Credit Talk' started by ld, Jun 13, 2000.

  1. ld

    ld Guest

    does anyone know of any lenders that will lend with irs liens. the irs says it will subordinate but who knows?
     
  2. Liz

    Liz Guest

    RE: are there lenders that wil

    I do a lot of equipment leasing for companies and tax liens are basically the kiss of death on a deal. Sorry to be so negative but the lenders feel that the lien holder can take possession of the equipment and the risk is too high for them.

    I've tried to get a few people approved w/ tax liens that also had large bank balances & good trade lines, but I have been unsuccessful. If you find a company that will work with you, please find out if they do any equipment leasing!

    Thanks!
     
  3. rl

    rl Guest

    RE: are there lenders that wil

    The IRS will usually subordinate, but unless you are taking out a 2nd mortgage on a home you already own, a lender won't allow it. Having managed an escrow office, I have never seen a lender fund a new loan with an outstanding IRS lien. The only thing I can say is if your credit is good otherwise, they may allow you to pay it off through escrow/closing, and still extend you the loan. Talk to a mortgage broker, they have a bigger network of underwriting standards to choose from. Good Luck.
     
  4. ld

    ld Guest

    RE: are there lenders that wil

    i'm actually trying to find a lender for a 2nd.
     
  5. rl

    rl Guest

    RE: are there lenders that wil

    Go to a mortgage broker in your area, they are everywhere. (look in the yellow pages) If they can't help you, ask for a referral to someone who can.
     

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