Selling Guide

Published December 16, 2020

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How are outstanding judgments and liens handled?

Delinquent credit—including taxes, judgments, charge-offs of non-mortgage accounts, tax liens, mechanics’ or materialmen’s liens, and liens that have the potential to affect Fannie Mae’s lien position or diminish the borrower’s equity—must be paid off at or prior to closing.

Delinquent federal income taxes that are approved to be paid by a monthly installment agreement with the IRS must be paid in full at or prior to closing if there is any indication that a Notice of Federal Tax Lien has been recorded against the borrower in the county in which the subject property is located. For additional information about federal income tax installment agreements, see B3-6-05, Monthly Debt Obligations.

For details regarding delinquent federal income taxes that the IRS has approved to be paid through an installment agreement that can be included as a monthly debt obligation, rather than being paid in full, also see B3-6-05, Monthly Debt Obligations.

For additional information, see B3-6-07, Debts Paid Off At or Prior to Closing 

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If you have additional questions, Fannie Mae customers can visit Ask Poli to get information from other Fannie Mae published sources.

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