Short Question For Mortgage Underwriter
Budget: $30 – $250 USD
I would like a definitive answer to the following scenario:
A potential mortgage borrower with great credit, years of solid steady W2 income and 5 recent years of clean IRS transcripts with 0 owed (Should clear the 4506-C for past 2 to 4 years)
However, the borrower owes taxes on older years and their is a county lien on file in another state that the borrower hasn't lived for more than 2 years. The borrower owns no property in either state.
If the borrower applies for a loan in his current state, will this lien be detected during the application process? The lien is close to the statue of limitations and the borrower is weighing waiting longer to let it expire before buying a home or inquiring if it will impact the application as is.
A potential mortgage borrower with great credit, years of solid steady W2 income and 5 recent years of clean IRS transcripts with 0 owed (Should clear the 4506-C for past 2 to 4 years)
However, the borrower owes taxes on older years and their is a county lien on file in another state that the borrower hasn't lived for more than 2 years. The borrower owns no property in either state.
If the borrower applies for a loan in his current state, will this lien be detected during the application process? The lien is close to the statue of limitations and the borrower is weighing waiting longer to let it expire before buying a home or inquiring if it will impact the application as is.