Second Mortgage Loans to Pay off Tax Liens

Nationwide offers fixed rate second mortgages to pay off collections, tax liens, and refinancing adjustable rate mortgages for reduced interest and increased monthly savings. As some homeowners have found out the hard way, it is very difficult to conduct any home financing transactions if you have a tax lien against your property. The IRS has the authority to be put in 1st position on the title to your property until the past due taxes are paid in full. This means that if you want cash for home improvements or purchasing, you must first pay off any tax liens.

Take out a 2nd mortgage and Get All Your Tax Liens Removed from Title • Fixed Rate Loan Consolidating • OK for paying off Tax Liens • Second Loan behind Interest Only • Debt Consolidation Loans • Consolidate all of your debts into one low monthly payment • No PMI & No Mortgage Insurance • First Time Homeowners OK

Paying Off Personal Tax Liens with 2nd Mortgages
Rebecca K. O'Connor

If you've been ignoring those pesky letters from the state tax board or the IRS, you find a surprise in your credit report, a tax lien. Having a tax lien on your credit report can be deadly to your credit score. As long as you have a lien, lenders won't touch you until it's paid off. In fact, even if you pay it off it can affect you credit score for many years. Your best bet is to pay off those taxes before they become a lien. If there is a lien however, you should try to pay it off as soon as possible, especially if you own a house.

If you have a home with equity in it and can afford the payments, it may be a good idea to take out a second mortgage. An Experian Consumer Direct study shows that consumers with mortgages have average credit scores 55 points higher than those without. Those with second mortgages do even better, with scores 81 points higher. You may not only save your credit, but improve it.

A cash out can pay off collections and tax liens, stopping them from compounding interest and eliminating late fees. Also, a second mortgage can help you keep your house by paying your tax liens. If there are liens you could lose your home, have your bank accounts seized and paychecks garnished depending on who holds the lien. You'll want to get the second mortgage before your house goes into foreclosure.

If you are about to be in financial trouble, a second mortgage can eliminate stress and pay collection and judgments. If you are thinking about selling your house to get out of trouble, remember that you have no idea how long it will be on the market. Dave Savage of Mortgage Coach notes "A very popular strategy is to extract equity before putting it out for sale. Most lenders would not loan money on a home that is on the market," Often, buying time can save your finances by consolidating your debt and getting your payments under control. It is also possible that you may get a tax deduction on the interest on the second mortgage. Be sure to look at all your options and work with a reputable lender.

Our second mortgages are available for people with good and bad credit scores ranging from 500-800. We offer prime rate second mortgage loans, as well as non-conforming credit lines for people with past late payments, collections or bankruptcies. Nationwide offers a simple online form that is easy to complete in seconds. Relax at home comparing interest rates, second mortgage terms, etc. Nationwide Mortgage Loans is one of the few lending brokers to offer second mortgages for people looking to pay off a tax lien.

Call 1-877-212-9478 to get more helpful advice and a free consultation from a professional loan officer.