All Forum Posts by: Prash Raaj

It has still not gone through the system. I checked online today and the last update on the account transcript is still "secured tax return" from mid sept. I checked with irs back in late october, and they said it should get processed within 6 weeks. Its been past that now.Perhaps i should call back and check, but i have been reading about backlog that they have in the news, so not sure, if me calling would help, but will give it a try tomorrow. 

Greetings.

I am looking for some advise on cash out refinance mortgage with my below described tax filing condition. 

I am in a scenario where my 2019 returns have been e-filed and processed by irs. 

For the year 2018, i had made an estimated payment and filed for extension before the tax deadline in 2019 April.

I subsequently did not file the 2018 return until mid Feb 2020 and it has not been since processed due to covid close down.

The IRS tax account transcript for year 2018 shows the payments i have made back in 2019 april along with the update that the tax return has been secured as of mid sept 2020.  So, its effectively not processed and i am assuming its in the bottom pile with 2019 return backlog given priority.

I have been meaning to get cash out refinance for my property, but have been holding off since the 2018 return has not been processed.

Would lenders be kind or agree to this type of situation and entertain mortgage application? Or should i be just staying put until its processed. 

thanks

Prash