FHA loan w/back taxes owe

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Icon Mini Profile tnt

Joined: 13 Jul 2011

Posts: 1

1.36 Dollars($)
Post Posted: Wed Jul 13, 2011 1:07 pm    Post subject: FHA loan w/back taxes owe

Hi, I am prequalify for FHA loan and nothing serious came up on my credit report. A few months back, I got a notice from the IRS that I was audited and owed taxes for year 2008. My offer is accepted and paperwork being sent to underwriter. Will the tax audit be an issue on me getting a loan?
Icon Mini Profile sara

Joined: 05 Jul 2006

Posts: 3236
Location: New Brunswick, New Jersey
581.42 Dollars($)
Post Posted: Fri Jul 15, 2011 1:17 am    Post subject:

Hi tnt,

If your tax payments are delinquent, then it might be a problem for you when you apply for a loan. The lender may disapprove the loan for this. You should immediately pay off the delinquent taxes so that you don't face any problems while getting the mortgage.

Take care

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Icon Mini Profile jveenstra
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Joined: 10 Nov 2008

Posts: 1478
Location: River Edge, NJ 07661
31.04 Dollars($)
Post Posted: Mon Jul 18, 2011 11:17 am    Post subject: Taxes

The Lender will know about the delinquent taxes only if the IRS filed a judgment because you did not pay them as requested.

There is no judgment on your credit report.

Now your only concern is the title search. It is possible for a judgment to be on title but not on the credit report.

If the audit was recently, the IRS may not have filed anything

John Veenstra, Mortgage Banker
Approved Funding Corp.
41 Grand Avenue
River Edge, NJ 07661
W: 201-833-0123
NMLS ID 178140
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