State Tax Lien

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davidfr

1172 Posts

Posted - 07/02/2008 : 10:30:39 AM

I have a client with a state tax lien from 2002. He of course claims that it is not legit and he will not pay it. The loan is in Florida and the lien from Maine. Is it safe to assume that there is no lender in America who will give this guy a loan if he is not even willing to go on a payment plan?

brad.easter

696 Posts

Posted - 07/02/2008 : 10:43:24 AM

Not A-paper.

cspatmon

2142 Posts

Posted - 07/02/2008 : 10:46:29 AM

You are correct not on A paper or any other paper that a lender will take a chance on a local, state or government lein.

AGreene00

2820 Posts

Posted - 07/02/2008 : 10:49:16 AM

Is he saying that it isn't his? Or that it is his and he doesn't want to pay it?

davidfr

1172 Posts

Posted - 07/02/2008 : 10:54:31 AM

quote:
Originally posted by AGreene00

Is he saying that it isn't his? Or that it is his and he doesn't want to pay it?

He sold a business and he feels he settled everything with the state. they are saying he owes past sales tax. So i guess the answer is that it isn't his (in his mind).

He does not need A-paper. He will do anything to get into a house. If he has any other options he can possibly come up with 15-20% down. He has a 675 score and it is full doc.

djorge44

1571 Posts

Posted - 07/02/2008 : 10:55:34 AM

He should take the 15-20% down and settle the tax lien

davidfr

1172 Posts

Posted - 07/02/2008 : 10:56:48 AM

quote:
Originally posted by djorge44

He should take the 15-20% down and settle the tax lien

I agree wholeheartedly but he is one stubborn SOB. He simply refuses.

slants

4274 Posts

Posted - 07/02/2008 : 10:59:19 AM

quote:
Originally posted by davidfr

quote:
Originally posted by djorge44

He should take the 15-20% down and settle the tax lien

I agree wholeheartedly but he is one stubborn SOB. He simply refuses.

Then he needs to prove it to the state's satisfaction and get it removed before he can get a mortgage.

mganovsky

2070 Posts

Posted - 07/02/2008 : 11:02:56 AM

It does not matter if he puts 50% down no lender of any type in today's mortgage climate will do the loan. You might try a local hard equity lender but even then they may not touch it iether.

djorge44

1571 Posts

Posted - 07/02/2008 : 11:04:50 AM

I would tell him that is his choice to refuse and it is every banks choice to not do his loan.

davidfr

1172 Posts

Posted - 07/02/2008 : 11:37:13 AM

I was confident that he could not get a loan, but just wanted a second opinion. Thanks for all your help.

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