Compare Mortgage Quotes

ssyfrett · Joined: 17 Nov 2009 Posts: 1 1.42 Dollars($)

I presently have a balance to IRS of 37,000 and would like to pay this off as they are holding a lien against the property. I am currently in good standing and have an installment agreement of $500.00/month but of course the interest and penalty keeps on and then there is the lien. If I am going to pay $500.00 a month, I would prefer to pay back on a loan against my house. We are prepared to pay up to 1200/month after the first of the year when I will start receiving monthly Social Security and also make the payback schedule as low as possible, possibly 36 months? We also need to do approximately $20,000 work of home improvements, particularly siding and guttering. We are having some problems with mold in a sun room because of lack of guttering at the back of our house and part of the fascia board needs to be replaced. We have an estimate of approximatley $17,000 for the siding and guttering.

jameshogg · Posted: Tue Nov 17, 2009 8:03 pm Post subject:

Hi ssyfrett,

As there is an IRS lien on the property, it would be difficult for you to get a mortgage. The lenders would want you to clear off the IRS lien first and then apply for a loan. However, I would suggest you to speak to some of the lenders of your area in order to know whether or not they would approve you a loan. You may even speak to the lenders of this community and seek a no obligation free mortgage consultation from them. This will also help you know whether or not you will qualify for a loan.

Thanks

gmakerley · Posted: Wed Nov 18, 2009 10:07 am Post subject:

james, assuming that ssyfrett would qualify for a loan to begin with, most creditors, i believe, would simply allow for that lien to be paid off with the proceeds of the new refinance loan. of course, this presupposes common sense on the part of any lender approached - a rare commodity it seems of late.

Company	Loan Type	APR	Est. Pmt.
				Go
				Go
				Go
				Go
				Go
				Go

Property State:
Property Type:
Credit Rating:

All times are GMT - 7 Hours

Page 1 of 1

Compare Mortgage Quotes

How much can I borrow?