I am currently in escrow for a property in southern california, and we are having trouble with the loan because this year I had to file an amendment on my taxes, and the amendment is still pending, and could be pending for another 2-3 months as the IRS is very backed up at the moment.
I tried going to the IRS and seeing if there was a way to expedite it, but I had no luck.
My question is, does anyone know a way I can get around this either with a FHA or conventional loan? We were looking at bank statement loans, and then refinance when the amendment goes through.
But of course I would rather get the FHA loan sorted now, if anyone knows a way to get around this I'm all ears! thanks!
You might want to check with your lender if they will accept a letter from your CPA indicating that the return was filed.
Amended returns can not be e-filed, I hope your CPA e-filed the amended return.
If you already paper-filed the return, I wouldn't e-file the return as that may cause issues.
@Kevin King have you checked with other lenders?
Hey @Kevin King ! Sorry to hear about your challenges. Whether FHA or Conventional, you should be able to use a letter from your CPA saying that the amendment was filed. But it also sort of depends on the nature of the changes you made. If you made changes that resulted in taxes being due, the UW will want to see that has been paid already, or a payment arrangement established (requiring IRS acceptance obviously). I'm happy to give you some ideas to discuss with your lender if you'd like to reach out and share some more specific information. Feel free to give me a call.