4506-t

[thrix]

Hi,

Do mortgage companies usually pull the "account transcript" or the "return transcript" when mortgage applicant fills out a 4506-t.  I have some unpaid taxes and obviously would prefer that the returns be pulled rather than the account transcript (which will state I have unpaid taxes).

If you know of any banks/lenders that do not pull the account transcript that would be great.

Thnx

[DallasLoanGuy]

we will find the unpaid taxes

[thrix]

There is no lien or anything ... how will you find them?

[DallasLoanGuy]

i dont know what we pull.  but i have had my processore alert me several times about back taxes.

we look for them because it is a 'hidden' liability that should be disclosed.

also, the loan ap specifically asks if you are delinquent on any federal debt. answering no when you owe back taxes = mortgage fraud, a federal crime

[edcampbell613]

If you are trying to get any type of conventional loan, FHA or VA they are required to pull a 4506t transcript on everyone.

[edcampbell613]

You can also be charged with mortgage loan fraud

one of the questions they ask if you owe any federal debt. unpaid collections ect.

The only handcufs I like are the fuzzy ones, you might be different?

[StartingOver10]

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@edcampbell613 wrote:

You can also be charged with mortgage loan fraud

one of the questions they ask if you owe any federal debt. unpaid collections ect.

The only handcufs I like are the fuzzy ones, you might be different?

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All the answers above are correct. But the one I like the best is the one highlighted above...puts a different perspective on it, ....lol.

[Anonymous]

If I am in a monthly payment plan for over 12 months then FHA will accept, correct?

[edcampbell613]

Yes, as long as you are in repayments they should be able to move forward on the loan. (pretty sure, someone correct me if I am wrong)

They will need documents showing repay payments and length.

The payment will count agaist your DTI.

Hope it helps.

[DallasLoanGuy]

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@Anonymous wrote:

If I am in a monthly payment plan for over 12 months then FHA will accept, correct?

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if there is no lien. yes