My employer didn't file my w2 and it's holding up my home loan. They have refiled but the IRS says 2-6 weeks for it to show up! Help, any

Asked by Hannah2000, 30305 Fri Nov 11, 2011

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12
Hannah2000, Home Buyer, 30305
Mon Jan 30, 2012
After writing letters to my senators, contacting an IRS tax advocacy dept. and calling the IRS weekly, the document needed finally posted 6 weeks from the time it was refiled. Lenders have to verify that your W2 has been submitted to the IRS. They can not just use your copy or your tax return. They have to see that the employer has reported it.
1 vote
, ,
Sat Nov 12, 2011
As a matter of quality control, lenders verify all borrower's filed tax returns with the IRS prior to issuing a final loan approval. This has been occuring consistently since early 2008. Having an unfiled W-2 is a major red flag to an underwriter. Since it is a matter of quality control, there is no way around this matter until the IRS can verify what has been filed with them. Your employer might also face issues from the IRS for not properly filing required information.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia

Conventional | FHA | FHA 203K Renovation (Streamline & Consultant) | HomePath® |
HomePath® Renovation | VA | USDA | GA Dream | Jumbo Financing
Web Reference:  http://www.rodneymason.com
1 vote
David Herren, Agent, Atlanta, GA
Thu Apr 5, 2012
Think outside the box. You might try contacting a community bank or credit union, they may have more flexibility to help you out. You can ask if the seller will rent the property to you until your loan approval comes through. Another route would be to see if you bank will allow someone to co-sign the loan for you.
0 votes
, ,
Wed Feb 1, 2012
Yeah, well, don't forget to call the department of labor on that employer for missing the deadline. I've seen also that lenders can use the last pay check of the year instead of a W2. I understand that you couldn't file your return without the W2, so you were in a catch 22. If you need help in financing, let me know. We have a lot of great programs available.
0 votes
Tyler Willis, Agent, Atlanta, GA
Mon Jan 30, 2012
Where you able to purchase your home Hannah?
0 votes
Annette Levi…, , New York, NY
Mon Nov 21, 2011
Hannah,
Did you file tax returns for the last 2 years? If you did then you included your W2s.
Lenders check with the IRS for your tax return, not what your employer did. If you have filed your tax returns, speak to your loan officer to see what the problem is.
0 votes
Steve Pate, Agent, Cumming, GA
Sat Nov 12, 2011
All lenders verify all borrowers’ filed tax returns with the IRS prior to issuing a final loan approval. Having an unfiled W-2 is a major fraud red flag to an underwriter. There is no way around this matter until the IRS can verify what has been filed with them. You can go to the IRS center located at, 2888 Woodcock Blvd. Atlanta, GA 30341. You need to do this in person and not by phone. You show up, pull a ticket number and wait to be called. I suggest you show up at 7:30am before everyone else. You should be able to go to your employer and get as copy of your w2. They must give you a copy immediately by law. Use the copy that they gave you and take it with you when you go to the IRS’s office. I just had this happen with another client and it took three months to get resolved. As long as you filed your taxes then this can be resolved.
Call if I can answer any direct questions.

Check out my home search tool.
http://www.BestAtlantaHome4u.com

Regards,
Steve Pate, NMLS #102488
Mortgage Banker
Crossroads Mortgage
Office Manager
Southern Bank Homes
500 Pirkle Ferry Road
Cumming, GA. 30040
Office: (770) 888-8402 Ext.111
Steve@LendNow.com
Steve@SouthernBankHomes.com

Southern Bank Homes offers some of Atlanta’s finest foreclosed Homes. We give you the equity you deserve.

Crossroads Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 203K Renovation (Streamline & Consultant) | HomePath® |
HomePath® Renovation | VA | USDA | GA Dream | Jumbo Financing
0 votes
Spencer L Ha…, Agent, Atlanta, GA
Sat Nov 12, 2011
Hannah,

You might have to wait this one out until the IRS responses. Are still with this employer? How did you file a tax returns and what is the status of your home search if you are not working with a real estate agent?

Spencer Hayes
PalmerHouse Properties
2900 Piedmont Rd NE
Atlanta GA 30305
404-414-7893
spencer@spencerhayes.net
http://www.spencerhayes.info
Web Reference:  http://www.spencerhayes.net
0 votes
, ,
Sat Nov 12, 2011
That should not be a hold up if you filed your taxes. The 4506T gets a copy of what you filed, not what your employer did or didn’t file. I would argue this one with the underwriter. If you have applied for an FHA loan it can be transferred to another lender, find one that agrees with me and threaten to transfer the loan. If you didn’t file your taxes that is another matter altogether. Hope this helps out.

http://www.trulia.com/blog/jimsimms/2011/11/rent_option_or_r…

http://www.trulia.com/blog/jimsimms/2011/10/credit_repair_ca…

http://www.trulia.com/blog/jimsimms/
0 votes
Lynn B Fried…, Agent, Atlanta, GA
Sat Nov 12, 2011
Dan Tabit gave you an excellent answer based on his experience. While one would like to think no influence is needed, it sometimes helps to ask for assistance, especially from the federal representative who represents you when the issue is a Federal one, such as a W-2.

I am located in 30327 (next door so to speak!) and would be happy to assist you in finding the correct contact info for your elected representative if you need assistance. However ... you should be able to find the info by searching on web by address of where you vote to get your representative's information.

ONE STRONG SUGGESTION - if you call remember all those chilhood lessons about getting more with sugar than ... The elected officials have staff that handle requests for assistance. Hard to believe - but in their frustration - sometimes those calling for help are so upset they aren't polite to the satff person!

Have a happy day,
Lynn B.Friedman, Broker/Owner
ODAT Realty Services, Inc.
Web Reference:  http://odatrealty.com
0 votes
Dan Tabit, Agent, Issaquah, WA
Fri Nov 11, 2011
Hannah,
I ran into a similar situation earlier this year. When a lender is waiting for confirmation from the IRS we found no way around the issue. I wish I had better news, but it took a while. At one point the buyer contacted a State Senate office for help. We did get resolution after that, but I can't say whether that helped or not.
0 votes
Johnny Huang,…, Agent, Walnut Creek, CA
Fri Nov 11, 2011
Have you asked the lender what you can do in lieu of it? Employer statement, copy of the filed statement with certified mail receipt?
Web Reference:  http://crosswalkrealty.com
0 votes
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