Posted on: 19th Feb, 2011 11:55 am
In lease option currently, have made down payment, and all payments for 27 months of 36 month contract. Owner now wants/needs to short sale to us for 1/2 off. Can not get financing due to tax lien currently paying on. Any suggestions?
The amount we will save on payments, pays off taxes faster. Frustrated.
The amount we will save on payments, pays off taxes faster. Frustrated.
None - the tax lien can be placed on the property so the banks want it gone prior to financing
B
B
Thanks for your response. I qualify in every way, except lien, for financing, but can not get it paid off in time. Might have to look at alternative financing, but am afraid of high rates? Are those loans even out there anymore?
If you are referring to subprime or hard money
they may be however because of the way liens work it will be tough to convince them to finance you.
That lien if attached to the property will take first position bumping the mortgage and banks do Not like this
they may be however because of the way liens work it will be tough to convince them to finance you.
That lien if attached to the property will take first position bumping the mortgage and banks do Not like this