Can I Get A Mortgage if I have Not Filed My Tax Returns?

This post is for everyone. My suggestion would be to put together a list of items that are required for the lender and give it to your clients day one everytime. I asked my lender after being approved for my loan if they would need my husbands previous year tax returns. Instead of saying that he would down the road he said they were not necessary. Now we fsat forward to 2 weeks before we are closing on our house and BAM they need these transcripts. 9pm my husband and I are at H+R Block having them do his taxes. Next morning I am at the IRS building for 4 hours. Now our closing is being pushed back and this all could have been avoided if we had known in the beginning all of the items they would need. I am still confused as to why I was told they did not need them when they did but at this point I can't do anything about it anyway. Your clients don't do this for a living. This is my first house. My husband is Active Duty Navy and filed an extension and we are good people and now we are hoping this does not blow up in our face. I know it is frustrating when you guys lose a sale over it but more the reason to make this info very clear right from the start and don't forget that we are not trained IRS accountants or realtors. We are clueless as to those rules and policies but it does not make us idiots so maybe before judging you could give us the tools to succeed and if we shall fall once given the proper education than it is truly a sale that is not meant to be.

I hope you all realize you do NOT have to get the transcripts directly from the IRS.  We have a third partry company that gets the transcripts in one week max.  There are tons of these companies.  We get solicitations all the time.

Don't lose loans waiting for our SLOW government to respond.

Yes, in a perfect world you can hope for the best clients with all the money in the world and the financial house in COMPLETE order.  A friend of mine, who is very meticulous with his finances had a return rejected due to his broker misreporting his cost basis on a stock sold.  He provided the documentation by providing the dates of purchase, share counts and cost vs the total profits. 

Guess what - now his IRS transcripts are not in order???

Do you folks have ANY idea how many small, medium , self businesses there are; whereas, having everything in line is slowly becoming very difficult as the IRS, or some other reporting agent makes a mistakes and screws up their IRS account.

Lets face it, if the IRS is going to act like a credit agency or an equifax, then they need to be responsive and SERIOUSLY work on their reporting / correcting methods.

WORSE , the IRS now holds people hostages with a 'new deal'.  As of FEB of this year, as long as you agree to the complete amount they state you owe, you can keep the records off of your credit report.  Even if you go on a payment plan. Which means, that if you worked for an employeer like me, that 3 years later reported the earnings as subcontractor , and not an employee, you have to agree to the charges or risk no hope of getting a loan for 7 years after the tradeline is off of your credit report.

Fast forward to today, I didn't file last years yet, and just sent in my return for that year waiting to see what I owe them. 

Sadly, this MAY keep me from getting a house if the loan obtaining method requires my IRS financial record be perfectly in tact.  Or , at least will delay until I pay that, wait wait wait for it to show up correctly, call - fight, write, whatever...to get things done. 

 

So bottom line is, if you all are waiting for that perfect 40-50's something client, nice pile of cash in their bank account, perfect credit, and now, a perfect IRS account - good luck.  Lean times are going to be ahead for all of you.

If you can't use a employers w2's, obviously printed from a company and verified from an employer, then we are going to see a housing LULL that makes the 80's look like the best of times.

I am incredibly frustrated by this process. We have our financial house in order. We've filed and paid taxes on time EVERY year. We've provided our copies of the 2009 and 2010 W-2's, copies of our tax returns for 2009 and 2010, but closing has been put off two times now because the IRS cannot locate a copy of our 2009 W-2. Either our employer didn't submit it (ALL the other employees' W-2 were submitted) OR the IRS lost it.

Our employer has resubmitted this, but we've been told by the social security dept. (first step for resubmitting for the employer) that it could take 4-6 MONTHS for it to be verified!!!

WE didn't do anything wrong. We've got excellent credit, have a solid down-payment, have shown every detail about every financial transaction we've made in the last six months, but will now probably be out of the buyers market because this will hang on indefinitely!

 

My husband did make a mistake, did not file his returns last year until a moth ago. Our lender told us he would only need the W2s, we went under contract for our house. Then he needed the returns. Now he needs the transcripts. My husband has been down to the local tax office twice this week, with no help. Not that I really expect them too, it is the IRS and did make the mistake. We are now twelve days away from closing. The documents have not even been processed by the IRS. Our lender still believes we will be able to close on time. Not only do I think he needs to find a new line of work, I also think our real estate agent who recommended him are out of their minds. Does anyone get, how slow our government is? Again, I take responsibitly and fully acknowledge the ignorance that my husband showed, as well as I for starting this process. I would however, like the individuals who are making a very good amount of money off of our business to provide us with some kind of realistic approach and competency.

I just got in the same boat. I understand how it is important to have your finances all cleaned up before buying a house. I did the same thing but a little bit of presumption and procastinating has placed me in a terrible bind. As a W2 employee, single, no kids, no home, I usually do not owe IRS any monies when I file and thus am not really bothered about the deadline to file. In 2010 I received a lump payment due to the sale of the company I worked with, thinking that all witholdings towards IRS were done, I pushed the date of filing in 2011 till early 2012 because I figured I would not owe IRS anything ( I was wrong!). Turns out before going into contract to purcahse the house, I made sure I had filed  both 2010 and 2011 and discovered that I owed a substatial amount to IRS (basically due to the lump payment I was bumped into a different tax bracket). Well I filed the return, I unfortunately forgot to sign the document, so IRS returns the document and  you can imagine the delay this will have caused with processing the return. Fast forward to working with the lenders, I gave them all information, statements, documents that they needed. Then out of the blue, a day before closing..... they inform me that my 2010 transcript cannot be pulled and by law they will not go into closing! What a bummer! I called IRS and dsicovered that it was still being processed,  I am currently working with the Tax Advocay Agents in the hopes that they will push this as I have to be out of my current lease in two weeks. Now everything is on hold, the sellers are stalling with signing an amendment to extend the date of closing. My question is why will the lender wait until the dying minute to pull transcripts. I am not  an IRS agent neither did I study tax law so placing these expectations on first time buyers like myself is a little too much. Why are we not told at the front end of the loan process ALL the critical documents needed so that if things are not in a row, we would not go into contract and indeed go back and clean things up.

I receive all of my income from an annuity from a lawsuit settlement that provides a sizeable amount each month for the next forty years.  This is not taxable income so no tax return is even filed.  How would i qualify with this?  It doesn't matter, my house is fully paid off.  

I filed by 2012 and 2013 taxes this year due to Identity theft on my 2012 which caused me to not be able to complete 2012 until it removed. My question is I am on a payment plan for other years. Will I get approved?

We offer private, commercial and personal loans with very low annual interest rates as low as 2% in one year to 50 years repayment period anywhere in the world. We offer loans ranging from $ 5,000 to USA $ 100 million. Our loans are well insured for maximum security is our priority. Are you losing sleep at nights worrying how to get a legitimate loan lender? Are you biting your fingernails to the quick? Instead of hitting you, contact Mark Moel Home Loan (Loan Services) now, the specialists who help stop the bad credit history loans, to find a solution that victory is our mission.
Applicants must complete the application form following loan:
E-mail: Markmoelloanhouse@live.com
LOAN APPLICATION FORM
LOAN APPLICATION
Your name and surname *
Your email *
Your telephone number *
Your address *
Your City *
State / Province *
country *
Sex *
Date of birth *
Have an account? *
You have applied before? *
Loan Amount Needed *
Length of Loan *
Purpose of Loan *
Send me a scanned copy of your ID: *
Creditor Name: Mr.Mark Moel.
Lender E-mail: Markmoelloanhouse@live.com
regards,
Mr.Mark Moel.
Markmoelloanhouse@live.com

I have not worked or filled tax returns in last 3 years. Waiting for disability. Now I'm ready to buy a house and have over 50% to put down. I know the lender wants last 3 years of tax returns but did not work will they take years before that?

I'm a buyer and I had my taxes filed late. The taxes were returned for lack of postage and again sent back but not accepted by the post office. Long story short it was not going to be processed in time for the loan approval so they accepted the stamped receipt from the IRS that the taxes were filed. Here is the kicker.. now their concern is not that my current year was late, but one of the 3 years they requested was. As I understand the concern, the irony is this. In 6-8 weeks the taxes will be processed. If they decline the loan now, then I can apply again, they will do a veri-tax and the documents will be on file and the EXACT same loan will be approved!! The seller will not extend the sale of this house for 6-8 weeks. She will back out and I will lose what I put in, but again as I stated my qualifications for the loan will be the same. I find this sorta amusing

they ask for 2 year tax returns but the ask for 3 years tax transcript only file 2016 and 2015 I have not file 2014 can this delay my closing I and file2014 tax retur this week

Do you need urgent loan to start up a large business This is Dr Alexandre Carlos firm . Will give out a loan at the rate of 2% to the borrower will are Legitimate loan lender. Will give loan of $50,000.00, $80,000.00.$1,000, 000, to a borrower depend the loan the applicant need ,maximum term of 1 to 30 years. If you are in need of
loan get touch to our company Dr Alexandre Carlos firm or Email us on info.alexandrecarlos1@gmail.com for any loan you needed

BORROWERS INFORMATION
Your name ..............................................
Your country............................................
Your address ...........................................
Your occupation ........................................
Your marital status ....................................
Current status in the workplace.........................
Phone numbers / Cell Phone / Office phone...............
Monthly income .........................................
Loan duration...........................................
Loan amount ............................................
How did you hear about us?..............................
We offer loan to pay off your debt and bills,
Best Regard.

Dr Alexandre Carlos

Do you need urgent loan to start up a large business This is Dr Alexandre Carlos firm . Will give out a loan at the rate of 2% to the borrower will are Legitimate loan lender. Will give loan of $50,000.00, $80,000.00.$1,000, 000, to a borrower depend the loan the applicant need ,maximum term of 1 to 30 years. If you are in need of
loan get touch to our company Dr Alexandre Carlos firm or Email us on info.alexandrecarlos1@gmail.com for any loan you needed

BORROWERS INFORMATION
Your name ..............................................
Your country............................................
Your address ...........................................
Your occupation ........................................
Your marital status ....................................
Current status in the workplace.........................
Phone numbers / Cell Phone / Office phone...............
Monthly income .........................................
Loan duration...........................................
Loan amount ............................................
How did you hear about us?..............................
We offer loan to pay off your debt and bills,
Best Regard.

Dr Alexandre Carlos

My name is Richie Julie. I live in Berlin Germany and i am a happy woman today,And i told my self that any lender that can rescue my family from our poor situation, i will refer any person that is looking for loan to him,

They gave happiness to me and my family, i was in need of a loan of €15,000.00 to start my life all over as i am a single mother with 2kids, I met this honest and GOD fearing company that help me with a loan of € 15,000.00 Euro with interest rate of 3% ,They are GOD fearing

If you are in need of loan and you are sure you will pay back the loan please contact them On europeanloancompany2@gmail.com or whatsapp/call: +33751432942 And they are located in the European part of the world.

Company name: European Loan Company
Company Email: europeanloancompany2@gmail.com
Whataspp/Call: +33751432942
Youtube: https://youtu.be/NyWVARnZGww
Instagram: european_loan_company

Hello Every one,

My name is Mrs Harrison Francesca I live in UK London Liverpool am from Germany and i am a happy woman today? and i told my self that any lender that can rescue my family from our poor situation, i will refer any person that is looking for loan to the lender all thanks go to Mr Alexander Grant he gave me happiness to me and my family, I was in need of a loan of 450,000.00 euro to start my life all over, as i am a single mother with 2kids I met this honest and GOD fearing man loan lender that help me with a loan of450,000.00 euro, he  is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him via email... (info.acg3@gmail.com) COMPANY NAME: Loan Situation Center NAME: Alexander Grant

Mrs Harrison Francesca