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Loan Experts...Please Help!!!!

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Anonymous
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Loan Experts...Please Help!!!!

I am in the final process of getting approved for an FHA loan through BOFA.  My husband and I have a tax lien that is satisfied in addition to a Judgement that was also satisfied .  However, I looked online at our approval status today and the underwriter has stated the following:
 
Proof Tax Liens And Judgments In The Past 24 Months Are Not Applicants If They Are Applicants File Is Denied".
 
I was under the impression that as long as the Outstanding Collection Accounts, Judgments, Garnishments Or Tax Liens Are Paid In Full Prior To Or At Closing we would be fine.
 
Is there any way around this?? Have you seen this before?
 
 
Message 1 of 9
8 REPLIES 8
Anonymous
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Re: Loan Experts...Please Help!!!!

bump...Can anyone help??
Message 2 of 9
Anonymous
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Re: Loan Experts...Please Help!!!!

Can anyone help me out??
Message 3 of 9
Anonymous
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Re: Loan Experts...Please Help!!!!

It may be due to the weekend that you haven't rec'd a response. I know most of the profressionals post during the week. I'm not familiar enough with your situation to offer any personal advice, but I will look around the net to see what I can come up with. Did you try using the search feature to see if there are any similar threads already here?
 
I know telling you to wait till Monday is like telling you to wait 10 years until you purchase a new home. I know you're going crazy trying to figure it out, I know I would.
 
Sorry. Smiley Sad
Message 4 of 9
Anonymous
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Re: Loan Experts...Please Help!!!!

Here are some threads:
 
 
 
 
There are several more threads on this topic...from what I gather some lenders may only require the liens be satisfied (or paying on them) and others may have stricter guidelines. It seems as though your lender may be one of those "stricter" ones.
Message 5 of 9
Anonymous
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Re: Loan Experts...Please Help!!!!

Thanks so much for the response.  Hopefully, my LO will clarify this for me on Monday.  I am on pins and needles......I dont know what I will do if this loan doesnt happen.
Message 6 of 9
DallasLoanGuy
Super Contributor

Re: Loan Experts...Please Help!!!!

that is wierd....
bofa is an awful fha lender..... they have some neat programs, but they suck at fha
 
Retired Lender
Message 7 of 9
Anonymous
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Re: Loan Experts...Please Help!!!!

Dallas, is there anyway around this??  Have you seen someone denied because of this issue?
Message 8 of 9
DallasLoanGuy
Super Contributor

Re: Loan Experts...Please Help!!!!

only if the borrower couldnt pay off the liens or judgements. i have had borrowers pay them at closing
 
it doesnt matter when they happened if automated underwriting has approved.
 
Retired Lender
Message 9 of 9
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