Can I apply for a loan or mortgage with an IRS tax lien?
Asked 6 months ago
Yes, it is possible to apply for a loan or mortgage with an IRS tax lien. However, having an IRS tax lien can make the loan or mortgage application process more challenging. A tax lien is a claim by the government on your property due to unpaid taxes, which can affect your creditworthiness. Lenders and mortgage companies may view this as a risk factor, as the lien takes priority over their claim to your property in case of default. Generally, lenders will require you to address the lien before approving the loan or mortgage. This can be done by paying off the tax debt, negotiating a payment plan, or securing a subordination from the IRS. It is recommended to consult with a financial advisor or tax professional to explore viable options for obtaining a loan or mortgage while dealing with an IRS tax lien.
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