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mortgage current; state/fed tax leins accepting sub. our lender says we do not qualify due to tax liens. value 190-200; owe 140

by debnejedlo474 from Louisville, Kentucky. Mar 17th 2016 Reply


William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

That is true.. and would be true for any lender.. the reason is that if they were to allow you to refinance, then at the instant your old loan is paid off, the tax lien now becomes first position, and the new mortgage is 2nd position.. meaning, if your property gets foreclosed on, then the sale proceeds would first go to pay the tax lien, and the remainder would go to satisfy the mortgage, which for your scenario would not be a problem is the tax lien was only $5000, but if it's $100,000 then the lender would stand to lose a great deal if the property goes into default. 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Mar 17th 2016
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William J Acres (William_Acres)
#73 ranked lender in Arizona - 8,726 contributions

One thing to note here.. if the state and the IRS are willing to subordinate their position, and you have been making on-time, verifiable payments, then this is allowed under conforming guidelines, but you will have to look for a lender that will allow it.. To go about this the easiest way, you should start by contacting a LOCAL mortgage broker and apply with them. Once they see your complete loan profile, they will be better equipped to advise you properly. Also, by applying with your LOCAL Broker, you have an advantage because he's familiar with local customs and works with many lenders with each one offering a different type of lending program. This is unlike the local bank which typically only has a few lending programs. The more lenders, the more lending options, and the more likely your scenario will be accepted.. Plus, the broker is experienced in seeking out the best loan terms for your particular scenario, and he has lower overhead which typically results in lower rates and 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. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com NMLS# 226347

Mar 17th 2016
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As long as you have a paymenr plan in place we would be willing to accept that. Feel free to contact me with any other questionsDan Walsh

Mar 17th 2016
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Lorne Harvey (lorneharvey)
#80 ranked lender in Washington - 431 contributions

William did a great job, I would concur!

Mar 17th 2016
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Jesse Stroup (jessestroup)
#4 ranked lender in Idaho - 593 contributions

You will need to pay off the tax liens, you might want to look into a cash-out refi to pay them off. I hope this helps. Jesse Stroup | California Mortgage Professional | www.JesseStroup.com | NMLS# 6229

Mar 22nd 2016
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