texas refinance: Remove Tax Lien for possible Mortgage Approval
- 10/10/11 05:55 AM
Many times, new home buyers in Texas or current home owners wishing to refinance in Texas apply for mortgage financing only to discover that they have an IRS Tax Lien reporting on their credit report that has negatively impacted their credit scores to a point that they cannot qualify for a mortgage. Is there a way to remove a tax lien for possible mortgage approval? In all cases, Fannie Mae and Freddie Mac will require the Federal Tax Lien to be paid off at or prior to funding — and this is assuming that the Federal Tax Lien has not significantly … (3 comments)
texas refinance: Fannie Mae’s change to Cash out!
- 07/22/11 12:24 PM
To date, Fannie Mae recently required a minimum of six (6) months to elapse between the time a borrower purchases a home and subsequently applies for a cash-out refinance. Fannie Mae now allows a cash-out refinance within six (6) months of a purchase transaction when no financing was obtained for the purchase transaction under the following parameters: The new loan amount is not more than the actual documented amount of the borrower’s initial investment in purchasing the property, plus the financing of closing costs, prepaid fees, and points (subject to the maximum LTV, CLTV, and HCLTV ratios for the transaction). The … (1 comments)
Many times, new home buyers in Texas or current home owners wishing to refinance in Texas apply for mortgage financing only to discover that they have an IRS Tax Lien reporting on their credit report that has negatively impacted their credit scores to a point that they cannot qualify for a mortgage. Is there a way to remove a tax lien for possible mortgage approval?
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