Posted on: 23rd May, 2009 07:24 am
i have a federal tax lein against my house. the irs wants me to refinance my home equity loan and pay off the lien. however no one will give me a mortgage with a federal tax lien against and the irs will not subordinate the lien. besides i cant afford a much higher mortgage payment. what can i do ?
first try to repay your federal tax.
You can refinance if there is enough equity to satisfy the tax lien at closing.
Hi cpaplanner,
I agree with Eric. If there is equity in the property, you can try for a refinance provided you have a good credit score and income. You can then satisfy the lien during the closing. This will help you in paying off the lien as well as lowering the interest rate of your mortgage.
I agree with Eric. If there is equity in the property, you can try for a refinance provided you have a good credit score and income. You can then satisfy the lien during the closing. This will help you in paying off the lien as well as lowering the interest rate of your mortgage.
refinance is better option if you are not able to pay federal tax