Answer by Gerard J. Carney
No! The Bank has to be the primary lien on record or they will not lend, Taxes Local or IRS have jurisdiction over all other liens, that is one of the reasons all mortgage require escrow tax payments,...
View ArticleAnswer by * Loren Hoboy *
I agree, NO. The bank must be in first lien Position. You can try to get the IRS to take a subordinated positions if you are in some kind of workout, but it is not likely they will agree. If you are...
View ArticleAnswer by Robert Kroon
YES - With a qualifier. My buyer purchased a home and two weeks into the escrow it was determined there was an IRS lien against the property. ( why it took the escrow company that long to find...
View ArticleAnswer by Roswell Moore, CMPS
Hi Nebula, The answer is that a Conventional, FHA, VA, or USDA lender will NOT lend on a home with an IRS lien on the property. Robert's answer below used a great strategy (way to go, sir!) in that...
View ArticleAnswer by Jose Dias
The short answer is no. Banks will not finance a home that has an IRS lien. As you may or may not know, IRS liens have precedence over a mortgage lien. This means that they are in first position. The...
View ArticleAnswer by Nebula
I just found out that the 120 day deadline is 8 days before escrow closes, I really want this house. So I am hoping all works out. The loan had already been approved, and we are putting 20% down. I was...
View ArticleAnswer by John Juarez
I disagree. Yes the bank will make a loan on a house with an IRS lien. Not a refinance but a purchase loan. The loan will be to the buyer. The seller’s tax obligation will be paid from the proceeds of...
View ArticleAnswer by Jay Thompson
Nebula - Have you posed this question to your lender? They are after all, privy to all the details and nuances of your transaction, unlike anyone else here.
View ArticleAnswer by Gerard J. Carney
No! The Bank has to be the primary lien on record or they will not lend, Taxes Local or IRS have jurisdiction over all other liens, that is one of the reasons all mortgage require escrow tax payments,...
View ArticleAnswer by * Loren Hoboy *
I agree, NO. The bank must be in first lien Position. You can try to get the IRS to take a subordinated positions if you are in some kind of workout, but it is not likely they will agree. If you are...
View ArticleAnswer by Robert Kroon
YES - With a qualifier. My buyer purchased a home and two weeks into the escrow it was determined there was an IRS lien against the property. ( why it took the escrow company that long to find...
View ArticleAnswer by Roswell Moore, CMPS
Hi Nebula, The answer is that a Conventional, FHA, VA, or USDA lender will NOT lend on a home with an IRS lien on the property. Robert's answer below used a great strategy (way to go, sir!) in that...
View ArticleAnswer by Jose Dias
The short answer is no. Banks will not finance a home that has an IRS lien. As you may or may not know, IRS liens have precedence over a mortgage lien. This means that they are in first position. The...
View ArticleAnswer by Nebula
I just found out that the 120 day deadline is 8 days before escrow closes, I really want this house. So I am hoping all works out. The loan had already been approved, and we are putting 20% down. I was...
View ArticleAnswer by John Juarez
I disagree. Yes the bank will make a loan on a house with an IRS lien. Not a refinance but a purchase loan. The loan will be to the buyer. The seller’s tax obligation will be paid from the proceeds...
View ArticleAnswer by Jay Thompson
Nebula - Have you posed this question to your lender? They are after all, privy to all the details and nuances of your transaction, unlike anyone else here.
View ArticleAnswer by Robert Kroon
YES - With a qualifier. My buyer purchased a home and two weeks into the escrow it was determined there was an IRS lien against the property. ( why it took the escrow company that long to find...
View ArticleAnswer by * Loren Hoboy *
I agree, NO. The bank must be in first lien Position. You can try to get the IRS to take a subordinated positions if you are in some kind of workout, but it is not likely they will agree. If you are...
View ArticleAnswer by Robert Kroon
YES - With a qualifier. My buyer purchased a home and two weeks into the escrow it was determined there was an IRS lien against the property. ( why it took the escrow company that long to find...
View ArticleAnswer by John Juarez
I disagree. Yes the bank will make a loan on a house with an IRS lien. Not a refinance but a purchase loan. The loan will be to the buyer. The seller’s tax obligation will be paid from the proceeds...
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