Posted on: 09th Apr, 2010 07:53 am
I recently was pre-approved for a home loan, passed CAIVRS and they are waiting on my updated bank statement to proceed to the underwriters.
Here is what I am afraid of. I explained in an e-mail to my LO that there was deduction on my paytub that reads Legal withholding assignment. This was a levy placed on my wages about two years ago because taxes that I thought were paid had not been paid. My husband and I had filed for divorce and filed seperate taxes in 2006 and he owed for that year. We since remarried and he had changed jobs so when the IRS tried to levy his wages he was not at the job they had listed from his past W-2, so they placed the levy on me. I called and they removed this levy and a payment arrangement was set up. I have not heard back from my LO yet, do you think this is going to keep me from passing underwriting? Since I am seeking this loan on my own without my husband's income or credit, do you think he could write a letter explaining that I did not know about this and that he has since handled the problem? Thank you :-)
Here is what I am afraid of. I explained in an e-mail to my LO that there was deduction on my paytub that reads Legal withholding assignment. This was a levy placed on my wages about two years ago because taxes that I thought were paid had not been paid. My husband and I had filed for divorce and filed seperate taxes in 2006 and he owed for that year. We since remarried and he had changed jobs so when the IRS tried to levy his wages he was not at the job they had listed from his past W-2, so they placed the levy on me. I called and they removed this levy and a payment arrangement was set up. I have not heard back from my LO yet, do you think this is going to keep me from passing underwriting? Since I am seeking this loan on my own without my husband's income or credit, do you think he could write a letter explaining that I did not know about this and that he has since handled the problem? Thank you :-)
Hi Guest,
You have mentioned that though the IRS placed a levy on you, they removed it and a payment arrangement was set up. As you're paying off the dues on time, I don't think your loan will be denied. However, this may be considered as a negative item on your credit report. Your loan officer would let you know whether or not you need to give an explanation letter.
Take care.
You have mentioned that though the IRS placed a levy on you, they removed it and a payment arrangement was set up. As you're paying off the dues on time, I don't think your loan will be denied. However, this may be considered as a negative item on your credit report. Your loan officer would let you know whether or not you need to give an explanation letter.
Take care.