HELP. I messed up, and I need advice

[macwood]

I'm in the middle of FHA underwriting and hit a MAJOR bump in the road and am looking for input....

I am on an IRS payment agreement and just realized that my last payment that was due to be automatically withdrawn from my account bounced. So, not only do I now have an insufficient fund charge showing on my bank statement I also messed up my IRS payment agreement. There was never any lein, I made arrangements prior to it getting that far.

I am applying for a FHA loan through the New Hampshire Housing Fiance Authority and they required that I be on the payment agreement for a minimum of 3 months (this was month 8 for me) and I just messed it up while my file is in underwriting. I do not have the funds available to pay off this debt.

I just emailed my LO about this (I'd rather them know now than have it pop up right before closing). Have I just lost my chance at getting approved?

Not to mention that my landlord just told us today that he is selling the house and will not be renewing our lease when it expires so if this falls through I am also out of an apartment in 2 months.....

[tooleman694]

Have you contacted the IRS

[Mondavi]

Ya I agree. Call the irs I'm sure they will work with you. However the insufficient funds could be an issue.

[xazilizax]

If it's your first insufficient funds ever since opening your account, then you could ask your bank if they can remove it.

[Mike_B03]

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@xazilizax wrote:

If it's your first insufficient funds ever since opening your account, then you could ask your bank if they can remove it.

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If the statement has already cut, which is sounds like it has, then they cannot remove it. 

[K_J]

too bad, do let us know how everything turned out. Good Luck