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what is the process to have the irs to release the tax lien on the property so that i can refiniance with no money being taken to lower the current interest rate by smitht_137_607 from League City, Texas. Apr 18th 2012 Reply


William J Acres (William_Acres)
#1 ranked lender in Arizona - 8,714 contributions

Ok.. so there are very specific rules for doing a cash out refinance in Texas... in short, you can refinance and pay off the lien with your proceeds at closing... but there is so much more information necessary to determine if you can actually qualify for a refinance... so because of the limited information you provided, the best advice I can give you is to contact a LOCAL mortgage broker, not the local "Big" bank, and certainly not one of those 50 states internet lenders... the LOCAL broker is familiar with local customs and works with numerous lenders, seeking out the best loan terms for your particular scenario. Because he has lower overhead, he can offer you lower rates and lower fees than most of the larger lenders.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Apr 18th 2012
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Conan Henry (conan.henry12)
#106 ranked lender in Texas - 10 contributions

If you plans are to pay the lien with some of the proceeds of the refinance, than the lien will be paid at closing. This should not effect your rate. Please call me if you have any questions. 936-499-6740

Apr 18th 2012
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Ralph Richard Guertin (ralph@absolutelowrates.com)
#2 ranked lender in Florida - 794 contributions

You can remove your tax lien by paying your due tax completely or make a partial payment and a deal and pursuing a way to get the tax lien lifted for the short period of time it takes to refinance or sell. This is just a temporary removal of your tax lien. For this option, it would also be best to seek the help of tax relief professionals, whom you can find online or through a phone book.

Apr 18th 2012
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Chris Marshall (1chris_270_567)
#111 ranked lender in Texas - 3 contributions

if you have paid the lien you should have received a release from the irs, this is suffice. if you haven't paid the lien and you don't have the equity in the property to pay the lien through the refinance, nor the cash to enter into an agreement with the IRS, you will have to petition the irs for a withdrawal of the lien based on the fact that you will be able to lower your monthly payments thereby increasing your cash flow which will then allow you to pay them back quicker. This is a case by case consideration the IRS will make. With that said, it helps your case to provide them with a good faith payment when asking for this consideration. I can help you prepare the petition and documentation for $100. And then help you refinance if it's approved. ~ chris 210.643.2976

Apr 18th 2012
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Bert Carpenter (BertCarpenter)
#38 ranked lender in Arizona - 1,823 contributions

Texas has some unique rules for cashing out equity. Work with a local Mortgage Banker/Broker in your area. They will guide you as to what you can do to satisfy the lien. Although in many states, paying off a lien (tax or otherwise) against a property is not necessarily treated the same as pulling cash out for other purposes. Your local Mortgage Banker/Broker will be versed in Texas law, because understanding Texas Lending Laws is part of the testing a Mortgage Banker/Broker must pass in order to obtain their license. Make sure you check out your selected Mortgage Originator at the National Mortgage Licensing System at www.NMLSConsumerAccess.org ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ www.LoansA2z.com

Apr 18th 2012
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