Posted on: 30th Apr, 2010 09:15 pm
I have a fed tax lien on my credit report for $15,000. I was making payments but the IRS deemed and placed me in uncollectable status. My husband has a VA certificate. I make majority of the money. Will this stop us from obtaining a mortgage?
Hi mthom,
A negative item on your credit report will hamper your chances of getting a mortgage. It will be the lender's discretion whether or not he would help you with a mortgage. You should contact your lenders and check out whether or not they would give you a home loan.
Thanks
A negative item on your credit report will hamper your chances of getting a mortgage. It will be the lender's discretion whether or not he would help you with a mortgage. You should contact your lenders and check out whether or not they would give you a home loan.
Thanks
Hi Mthom234,
It may not be an issue depending on what documentation you can provide.
Why did the IRS change your status when you were making payments to them?
Do you have anything from the IRS indicating the change?
How old is the account?
It may not be an issue depending on what documentation you can provide.
Why did the IRS change your status when you were making payments to them?
Do you have anything from the IRS indicating the change?
How old is the account?
Yes I have documentation to state the change. The account dates back to 2002 & 2003.
Hi Mthom,
That's good. The next step is to apply for a pre-approval where I would submit the documentation to an underwriter for their approval.If all goes well, you'll receive an approval letter so you can start shopping for new home.
That's good. The next step is to apply for a pre-approval where I would submit the documentation to an underwriter for their approval.If all goes well, you'll receive an approval letter so you can start shopping for new home.