Posted on: 06th Feb, 2009 03:33 pm
My question is... I have about $3000 I owe the IRS from the last 10 years overall, but none of it shows up on my credit report as a lein. I've had various years where they've owed me and then the following year I owed them, so I'm thinking that they are waiting to file a lein on my credit just to see how things wash out. What does the lender and FHA actually see in a situation like this? Do they get a full report, or do they just see the activity for the W-2's I gave them and the credit report? Should I just go ahead and get a payment agreement with the IRS anyway? I've offered on a HUD property and they've accepted, I'm just waiting for an answer from the lender. Should I wait until they turn me down and then get the payment agreement, or do it now, so I have some ammunition?
At this point, ight as well wait.
If you have an agreement with the IRS to pay back something over time, the lender usually wants to see 12 months payments made as agreed. So, getting an agreement tomorrow does not do a lot of good because you have no payment history of regular paymets a s required.
Any liens or judgment show up in one or two places. Sometimes they show up on the credit report. Sometimes they only show up in the judgment search which is part of the title work. If it is not on the credit report you are past the first step, but not in the clear.
After that, you need to "hope" it does not show up in the title judgment search. If it does not show there either, you are in the clear.
If you have an agreement with the IRS to pay back something over time, the lender usually wants to see 12 months payments made as agreed. So, getting an agreement tomorrow does not do a lot of good because you have no payment history of regular paymets a s required.
Any liens or judgment show up in one or two places. Sometimes they show up on the credit report. Sometimes they only show up in the judgment search which is part of the title work. If it is not on the credit report you are past the first step, but not in the clear.
After that, you need to "hope" it does not show up in the title judgment search. If it does not show there either, you are in the clear.
Yes i completely agree pay off the IRS or set up a payment plan and get that out of the way.
