Posted on: 25th Jan, 2010 11:25 am
i am trying to refinance my home, but i have a federal tax lien. i currently make monthly pyments to irs and have a payment plan and irs willing to do a subordination of lien to allow refinance. however, no bank or mortgage company will touch. although irs indicates they are backlogged on request, but everyone i talk with refuses to discuss with tax lien.
Hi dcurvin,
If there is a tax lien on the property, lenders will not be ready to refinance the loan. You'll have to first pay off the tax lien and then apply for refinance.
Did you inform the lenders that the IRS is ready to subordinate the tax lien while you refinance the mortgage? If not, then you should inform the lenders about it and check out if they are ready to help you. You may even seek a no obligation free mortgage consultation from the lenders of this community. This will help you know whether or not you would get a loan.
If there is a tax lien on the property, lenders will not be ready to refinance the loan. You'll have to first pay off the tax lien and then apply for refinance.
Did you inform the lenders that the IRS is ready to subordinate the tax lien while you refinance the mortgage? If not, then you should inform the lenders about it and check out if they are ready to help you. You may even seek a no obligation free mortgage consultation from the lenders of this community. This will help you know whether or not you would get a loan.