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Company Loan Type APR Est. Pmt.

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?

jveenstra's picture
jveenstra | Joined: November 10, 2008 09:03 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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

Like | Dislike | Share | Posted: Mon, 07/18/2011 - 11:17 | Post subject:

sara's picture
sara | Joined: July 5, 2006 03:16 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

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

Like | Dislike | Share | Posted: Fri, 07/15/2011 - 01:17

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