Hi everyone, New to this forum but have a question is it at all possible to get a mortgage with a tax lien on your credit report? I have a couple years where I was self employed and didn't keep my taxes up I am now paying 302.00 a month back but wont be done paying the gov back for another 5 years. Thanks in advance for any feedback
Agreed, that it is nearly impossible without some sort of release by the IRS. You can request the IRS to subordinate their lien, or to allow the mortgage, but you will have to make a great case. But be aware that an IRS lien will scare most lenders, as the IRS lien takes priority over the mortgage security in the property (the IRS gets paid first).
Difficult . . . but Possible Consider an owner-financed mortage, lease to own - or alternative where you are not going through a traditional mortage approval process. You will still need earnest money and be able to show you can afford monthly payments. In addition, an owner will want proof of of your current income and stabliity. Contact a local real estate attorney or realtor and inquire about alternate options for obtaining a loan. Laws vary from state to state, so consult an attorney and research your locale on the web. An attorney may charge a small 50-100 consulting fee. Contact your local bar association for a referral. Good luck.
