Clear the Tax Debt, Claim the Dream of Homeownership With The Right Mortgage   

 

Clear the Tax Debt, Claim the Dream of Homeownership With The Right Mortgage   

 

1^ST SEGMENT 12 MINUTES

 

Clear the Tax Debt, Claim the Dream of Homeownership With The Right Mortgage 

Host: #JoGarner #MortgageExpert #MortgageOfficer 901 482-0354 

Co-Host: #KenSullivan #TaxResolution Tax Matters Solved 

Special Guest: #BrandieSpicer #midsouthbookkeeper Howling Wolf Bookkeeping howlingwolfbooks .com 

Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner .com 

#mortgagesolution #taxletter #taxhelp #bookkeepingtips #homebuyer #mortgagerefinance #realtor #selfemployed

 

LET’S GET STARTED…(Jo) (Good morning, Memphis!  Welcome to our internet listeners and podcast listeners across the 50 states! . You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator.  You can connect with me at www.JoGarner.com. Our topic today January 17th, 2026 is: Clear the Tax Debt, Claim the Dream of Homeownership With The Right Mortgage.”   Thank you to attorneys Shelley Rothman and Rob Draughon of Griffin, Clift Everton and Maschmeyer Law Firm for sponsoring this episode.  When you are ready to buy a home or refinance one, call Rob and Shelley for the title work and closing. 901 752-1133. 

Introducing Ken Sullivan of Tax Matters Solved 

Back in the Real Estate Mortgage Shoppe studio we have Ken Sullivan of Tax Matters Solved.  Ken, you are a Certified Tax Resolution Specialist. You have been admitted as an Enrolled Agent to Practice in the US Tax Court, you are a US Navy veteran, small business owner for over 20yrs, President of the Exchange Club, a   real estate investor and …you graduated Ole Miss at the age of 20. You are so qualified to help us today on the matter of tax resolution.  Ken Sullivan, take a minute or so and tell us a little more about yourself and what services you offer your customers at Tax Matters Solved.

(Jo)      It’s always comforting to know that we have an advocate to help us, Ken, if we ever get THE IRS LETTER.  Customers over the years have still been able to buy their home or refinance one by taking smart steps to deal with the tax liens.

(Jo) Can you qualify to buy a home or refinance a home if you have an IRS lien?

Jason Janson uses a mortgage tool to get his delinquent taxes paid closing

Jason Janson (not his real name) wanted to retire years ago but, because of a misunderstanding with his tax professional, he was paying back several years of IRS liens. The set monthly payment to the IRS was more than he could afford if he retired from his job. If he did not find a way to pay off the tax debt, he would not be able to retire for another five or six years.

It seemed really easy to refinance and pay off the six figure tax bill since there was plenty of equity in the house Jason owned and he had good credit. What was holding Jason Janson back from a simple refinance to get the IRS out of his life?

Because, as Jason explained to me, “if I borrower over $100,0000 to pay off my IRS liens, my new mortgage payment will be too high for me to afford when I retire over the next few months. So,if I retire, the over $2,000 per month set IRS payment will put me in the poor house. If I try to refinance and pay OFF the IRS, the mortgage payment will put me in the poor house. I am doomed to work til I die.”

Jason was suffering every day because the huge IRS payback payment was holding him down in a very restrictive life style. But if he got the refinance, he would also be stuck making a large mortgage payment instead and could not afford to retire.

But, Jason did not know about a simple solution called a “mortgage recast.” Here is how the recast set Jason financially free. I explained to Jason that we could do a fixed rate mortgage on his house to pay off, once and for all, the IRS six-figure tax lien. The payment would be fairly high as compared to his job income. However, when he retired in the next few months, he would be getting a large lump sum from his employer in addition to some monthly pension. He planned to take some of the lump sum and pay down about 30% the unpaid balance on the new mortgage. He had a written agreement with the mortgage company that he could recast the mortgage to a much lower monthly payment once he made the extra lump sum payment. The recast would allow the lender to recalculate Jason’s payment on the much lower paid down balance over the remaining years on the mortgage term. Now Jason could retire AND enjoy an extremely low mortgage payment with NO TAX LIEN.

(Jo) Ken Sullivan of Tax Matters Solved, What are YOUR top tips for people dealing with THE LETTER from the IRS?   

Ken – The worst thing you can do  when you get the IRS letter in the mail

Don’t throw it away or put it in your sock drawer

Don’t panic   Don’t face the IRS alone   You would not want to pull your own teeth. You don’t want to deal with the IRS alone.

Respond on  to the letter on time.  Missing the deadline on the letter usually costs more than the tax itself.   If you respond, you can mitigate the costs. 

The IRS Letter is asking for attention and not confrontation.    As  you begin responding, you may deal with a rep or manger.  You then go to appeals.   Escalate your appeal to resolution.  Resolve it or go to US Tax Court.   

 

OUTRO: You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator. What do YOU want to accomplish with YOUR mortgage?  I can make the mortgage process EASY for you with the right mortgage. Connect with me at JoGarner.com   When we come back, we will be hearing more from Ken Sullivan of Tax Matters Solved.  Brandie Spicer of Howling Wolf Bookkeeping will be joining us too when we come back. 

 

 

2nd segment is after first   break  8 minutes 50 seconds 

 

( Waaka Waaka song in background ) COMIC QUERIES (you probably already know the 

1. (Ken Sullivan)  Riddle:   “What is the difference between a taxidermist and a tax collector? The taxidermist takes only your skin.” — Mark Twain
2. (Ken Sullivan to come up with another very short  one of his funny riddles about taxes)

 

 

Today on Real Estate Mortgage Shoppe, we are talking about “Clear the Tax Debt, Claim the Dream of Homeownership With The Right Mortgage.”

 

I’m your host,  Jo Garner, Mortgage Loan Originator . For your home purchase or a mortgage refinance you can brag about,.   We can find the right mortgage product and make the mortgage process EASY on a traditional mortgage, on special programs and outside-of-the-box mortgage programs too.   Connect with me at JoGarner.com

Ken Sullivan of Tax Matters Solved   601.421.7848

Brandie Spicer of Howling Wolf Bookkeeping howlingwolfbooks.com 

 

 

2^ND SEGMENT  8MINUTES 50 SECONDS 

 

TALKSHOPPE TIP

 

www.HowlingWolfBooks.com  

Talk Shoppe is one of our major sponsors on Real Estate Mortgage Shoppe.  Talk Shoppe offers free networking and education to our local business community.   If you join the Talk Shoppe Sponsor team, you can get a wide variety of marketing venues at a below-market price.   www.TalkShoppe.com 

Brandie Spicer of Howling Wolf Bookkeeping supports our business community by her contributions to the free networking and education offered through Talk Shoppe.  has some wonderful reviews from businesses she serves.   As your bookkeeper, Brandie can save you time and help you keep peace of mind.  

Brandie  shares her tip:  (about 1 minute) Insert Brandie’s tip here

#1 tip is to stay up-to-date on your bookkeeping 

 

Jo’s question to Brandie–“For my self-employed borrowers—what’s the biggest bookkeeping mistake that stops getting approval on loans?”

Brandie answers:  Not being current in your financial statements. Lenders want to see your latest numbers.  You don’t have time to go and recreate all those numbers when you need financing right now.   Keep your bookkeeping up-to-date so that you can be ready when you are getting your loan. 

 

 

 

 

TOPICS COVERED BY KEN SULLIVAN, TAX MATTERS SOLVED

 

 

Jo’s questions to Ken: 

• ·  “What’s the difference between a tax debt and a tax lien?”
• Ken’s answer:  A debt is what is owed. A lien is recorded in public records.   

IRS resolution options — and how each affects mortgage readiness

 

Kens’ topics

 

CAPITAL LOSSES

“Why a Bad Investment Year can still be a Smart Tax Year”

 

MEDICAL EXPENSES

“When Medical Costs become a Tax Strategy”

 

OVERLOOKED DEDUCTIONS

“The Tax Deductions Most People Leave on the Table”

 

SALT TAXES

“Why they still matter even in Low Tax States”

 

Bonuses if needed – Press talk about taxes and reality OB3A – One Big Beautiful Bill Act

“No Tax on Car Loans? Really”

            “No Tax on Overtime? Unbelievable”

            “No Tax on Tips? Are you kidding me?”

 

 

3^RD SEGMENT 12 minutes

 

 

• For Did You Know  today…(see if you can guess the answer before we do)
• (Ken Sullivan to present the trivia question and hints)
• Trivia Question:
  Memphis is famous for music, the Mississippi River, and barbecue… but here’s a money-related Memphis twist: What major federal agency has operated a large service center in Memphis—helping process tax paperwork and taxpayer account activity for many Americans?
• Hint #1: It’s the agency people think about every spring when they’re filing returns.
• Hint #2: If you’ve ever received an official notice about a tax balance, a payment plan, or your tax records, this agency is involved.
• Hint #3: The answer connects perfectly to today’s show theme—because clearing tax issues is often one of the biggest steps toward qualifying for a mortgage.
•  
•  
• (Brandie Spicer can give the Answer: The IRS—the Internal Revenue Service. Memphis has been home to a major IRS Service Center. 
•  

(Jo) Today on Real Estate Mortgage Shoppe, we are talking about “Clear the Tax Debt, Claim the Dream of Homeownership With The Right Mortgage.”

 

I’m your host,  Jo Garner, Mortgage Loan Originator . For your home purchase or a mortgage refinance you can brag about,.   We can find the right mortgage product and make the mortgage process EASY on a traditional mortgage, on special programs and outside-of-the-box mortgage programs too.   Connect with me at JoGarner.com

Ken Sullivan of Tax Matters Solved   601.421.7848

Brandie Spicer of Howling Wolf Bookkeeping howlingwolfbooks.com 

 

 

TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER

 

• Why unfiled returns derail a mortgage faster than tax debt does. 
• “If someone hasn’t  filed taxes in a few years, where do they start?”  How many years must be filed (Ken)
• How to fix this faster (Ken can outline the process)

 

A. Why commingling business & personal funds hurts (Short Comments from Ken and Brandie?)

B. What underwriters look for in bank statements (Jo)

SERGIO & SELENA-SELF-EMPLOYED HOME BUYERS GETTING FROM A “NO” TO A “YES” WITH A PORTFOLIO MORTGAGE

 

Sergio and Selena owned a profitable convenient store and had been saving for a home in the suburbs-outside the noisy, crowded city.  After searching for months, they found the house with just the right layout, outside the city but still convenient to everything they needed. 

 

What a negative shock when the mortgage company turned them down for their mortgage request due to “not enough income.” Suddenly it looked like the home they wanted so badly was going to get away from them. 

 

Their realtor referred them to me.   I could see why the other mortgage company turned them down for lack of income.   They had a really good tax accountant who legally wrote of a lot of expenses, making their NET income look very slim.

            “But we make PLENTY of income,” Sergio emphatically told me.   I believed them.  

I asked Sergio and Selena to scan over all pages of the last 12 months bank statements from their business.    From the bank statements we took a percentage of all of the business deposits.    Now the income-to-debt ratios were looking good. 

One more hurdle though.   On the first pass, the underwriter turned Sergio and Selena down because it appeared the income from deposits had declined about 50% in the last 6 months.    

That night I went back over the bank statements, noticing that the income to the owners had NOT declined—just the overall income.  Sergio and Selena explained that they had changed some of their suppliers and types of products sold which reduced cost of goods sold, so they did not have to bring in as much income to keep the same level of profit.   

The underwriting team relooked at this angle, agreed and approved their loan. 

It was celebration time for Sergio and Selena at their home purchasing closing  

Are you self-employed or know someone who has self-employment income who wants to buy a home or refinance?   Let’s explore the in-house portfolio products.  The interest rates on these programs are surprisingly affordable.  

 

P&L statements, balance sheets, and “add-backs” (Jo)

 

Why cash deposits can cause problems (Jo)

CASH- IF YOU HIDE IT AT HOME, YOU CAN’T USE IT -ARNOLD AND AMELIA’S STORY

 

Arnold and Ameila had been living with other family members all crammed into  in a small home in order to save their money on a small budget.   Both Arnold and Amelia said they loved their family but they were counting the days until they could buy their own home and have their own space—their own life. 

 

Prices had been going up on homes in the neighborhood where they wanted to live and they felt they needed to make the purchase now.   When I talked with them Arnold told me, “We need our place like right now.” He informed me that he had his money stored in a safe place in his home.

It was not going to be easy to tell him, but I had to let him know that to use that money, he would have to have it in a bank for at least 60 days since, due to the circumstances,   it would be difficult to provide a complete paper trail to show the source of the funds. 

For Arnoldo and Ameila, we got them approved for a special down payment assistance mortgage that would not require much money.   The sellers were not able to pay closing costs for him, but at least the assistance funds lowered the amount of funding he would need to close on the new home. Arnold and Amelia could use their tax refund for the small amount they needed and not have to wait so long to move into their own home. 

• Why writing everything off can lower qualifying income (Does Brandie have a short example story about this?)  Jo gives some tips on expenses that can lower your tax but still be counted for qualifying income to get a mortgage. Examples:
• Depreciation on a car or other asset like a house or equipment.  
• Business Use of Your Home
• Depreciable business miles on your car (some programs will allow this and others won’t)
•  “Two-year lookback” basics   Most of the government loan programs require the last 2 years tax returns for self employed borrowers so they can average the net income over two years. .   But, if you have been in that business for 5 years or more and have a stable net income, some of the conventional loan products only ask for the most recent tax return.  That is really great if you showed more income on your last tax return than on the year before. 

FYI  We have mortgage programs for self-employed borrowers and also real estate investors that do not use the tax returns at all to verify income.  Call me after the show and we can explore how these loans can work for you. 

            MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY.  I can make the mortgage process easy. Connect with me at www.JoGarner.com   You can email me at Jo@JoGarner.com or call me at (901) 482-0354 

 

 

4^th Segment  8 minutes and 50 seconds

 

 

(THE SONG UpBeat Inspirations  PLAYING IN BACKGROUND )    INSIGHTS & INSPIRATION  Jo shares this story

“The Back Steps”

A woman called a contractor to repair the back steps of her home. They looked fine from the street, but every time she used them, they creaked, sagged, and made her nervous.

When the contractor arrived, he didn’t start with a hammer. He started with a flashlight. He crawled underneath and said, “The problem isn’t the steps you see. It’s the support you don’t see.”

He replaced a few rotted boards underneath—boards no one would ever notice. Then he walked up and down those steps without a sound. Solid. Safe.

The woman said, “I can’t believe something so small made such a big difference.”

And the contractor smiled and said, “Most breakthroughs are like that. People try to fix what shows on the outside, but real security comes from strengthening what supports everything.”

Moral: When life feels shaky—financially, emotionally, or personally—don’t just patch the surface. Strengthen the foundation. A few smart steps today can turn fear into confidence tomorrow.

There are professionals right here on Real Estate Mortgage Shoppe today that can assist you with making those smart steps.  You don’t have to do it alone. 

 

Today on Real Estate Mortgage Shoppe, we are talking about “Clear the Tax Debt, Claim the Dream of Homeownership With The Right Mortgage.”

 

I’m your host,  Jo Garner, Mortgage Loan Originator . For your home purchase or a mortgage refinance you can brag about,.   We can find the right mortgage product and make the mortgage process EASY on a traditional mortgage, on special programs and outside-of-the-box mortgage programs too.   Connect with me at JoGarner.com

Ken Sullivan of Tax Matters Solved   601.421.7848

Brandie Spicer of Howling Wolf Bookkeeping howlingwolfbooks.com

 

REAL ESTATE TIP OF THE WEEK 

Brandie Spicer of Howling Wolf Bookkeeping shares a tip  – 

Tip:  #1 To make sure you are not commingling business funds with personal funds.  Keep a separate business account 

Keep up with receipts  

Ken Sullivan of Tax Matters Solved  share a tip 

File every tax return on time, even if you can’t pay the full bill.  You can always work out a payment plan with the IRS.

         

         Jo Garner Tip:    if someone has told you NO on your mortgage request  call me or text me there may be a special program or other solution that can work for you

 

 

 

What do YOU want to accomplish with YOUR mortgage?  I have the knowledge and experience. Let’s look at traditional mortgage products, alternative mortgage products and even combinations of products. I can help you get you what you need and make the mortgage process EASY.     Jo Garner, Mortgage Loan Officer 901 482-0354   www.JoGarner.com 

 

 

ANNOUNCEMENTS:   

Talk Shoppe equips with education, engages by offering connection opportunities between business people and empowers businesses in a supportive community. Talk Shoppe meets every Wednesday 9A-10A CT at Independent Planning Group’s conference room 110 at Clark Tower 5100 Poplar Ave 1^st floor Memphis, TN

(Thank you Ben Hunter 901 660-2912 outstanding Financial Professional at Independent Planning Group for being Talk Shoppe’s location sponsor)

Talk Shoppe on Wednesday January 21st, 2026 9AM  “Not Just Survive, But Thrive” presented by Sharon Fryman, YMCA Senior Program Director   This is a Health Talk powered by Resource4Care.com,  Sponsored by Tim Flesner and Genell Holloway of Mid-South Home Helpers and hosted by Talk Shoppe.

Talk Shoppe says thank you to the generous sponsors who make the free education and networking possible to our local business community. Thank you to Retired US Navy Line Commander, Peggy Lau, representative with Viago Travel.  If you plan to make some memories on a vacation coming up, why not get some bargains on the way.   If you want to know how, ask Peggy Lau at 901 289-0747.

SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE DOES NOT ENDORSE 100% OF THE CONTENT ON THIS EPISODE.  REAL ESTATE MORTGAGE SHOPPE  RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL, LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSES ONLY, AND NOT AN OFFER TO LEND.  EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND MOST ARE BASED ON TRUE STORIES BUT WE USE FICTIONAL CHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACT DETAILS IN ANY OF THE SITUATIONS. JO GARNER IS A LICENSED MORTGAGE LOAN ORIGINATOR. (EQUAL HOUSING OPPORTUNITY)

 

• QUOTE CORNER:  “The tax collector must love poor people, he’s creating so many of them.” — Bill Vaughan
• “a fine is a tax for doing wrong. A tax is a fine for doing well,” — Mark Twain

 

 

ACKNOWLEDGMENTS AND CREDITS

REJOINDERS:  

1. Rob Draughon and Shelly Rothman of Griffin Clift Everton and Maschmeyer Law Firm 901 752-1133
2. Don Hutson, national speaker and author    Memphis, TN
3. Preston Wilson, Probate, Trust and Estate Attorney

Transitional Music: First Segment    “WAAKA WAAKA” (PD) for Comic Queries;    “Brighter Tomorrows” by Stocktunes for Did You Know segment;  “Upbeat Inspiration” by Ikoliksaj for Insights and Inspiration segment.

INTRO AND OUTRO THEME MUSIC  “Country Roads” by Sergie Pavkin

PICK UP YOUR COPY OF “CHOOSING THE BEST MORTGAGE-THE QUICKEST WAY TO THE LIFE YOU WANT” by: JO GARNER

 

An essential guide for real estate professionals and their customers.

 

On Amazon and Barnes and Noble

 

 

Kenneth G. Sullivan

Post Office Box 1363, Millington, TN 38083-1363

601.421.7848  KSulli8153@aol.com

 

Worked from age 12 as newspaper carrier. Through High School and College.

 

US Navy Veteran – Small Business Owner – 20+

 

Exchange Club Member of Clubs in Tennessee and Mississippi.

 

Past RVP Region 6 – Tennessee and Mississippi (two terms). Past Trustee, National Exchange Club Foundation. Elected National Treasurer July 2023 in Phoenix.

 

Professionally – Real Estate Broker, license in TN and MS, Tax Resolution Problem Solver. Formerly Area Supervisor for finance company, Management Analyst State of Mississippi, Investor with properties in TN and MS

 

Family – Married my Bride of 54 years. First born daughter, Doctor of Veterinary Medicine – two grandchildren. Second born daughter, deceased Registered Nurse – two grandchildren.

 

Education – BBA – University of Mississippi (Ole Miss), SEE (Special Enrollment Examination – Enrolled Agent IRS), USTCP (Practitioner admitted to practice before US Tax Court), CTRS Certified Tax Resolution Specialist.

 

Interesting factoid – Graduated Ole Miss at age 20

 

 

 

ABOUT JO GARNER-MORTGAGE LOAN OFFICER:

www.JoGarner.com    (901) 482 0354  jo@jogarner.com  X     @jogarner   NMLS# 757308 

(currently working with Everitt Financial dba Supreme Lending)

ONLINE LOAN APPLICATION :   https://jogarner.supremelendingLO.com 

 “Whatever YOUR   personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on  hitting your goals .”

As a mortgage loan officer, my job is to help you get to the  benefits you want from your financing terms.  What is most important to you? I can help you find the financing terms that will help you get to what you want.   What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?

 Different clients have different priorities in life—some are buying their first home with very little down payment funds.  Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”

 Jo Garner is a mortgage officer with extensive knowledge in helping her clients find the right mortgage program and making the refinance or home purchase mortgage process EASY.  She offers conventional, FHA, VA or other loan programs for primary residences, second homes and investment properties.  

Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal on your home  purchase financing.   

Jo Garner  has been in the real estate/financing business for over 30 years.  She grew up in West Tennessee and got her start in real estate in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine  and was personally mentored in San Diego, California  by Robert G. Allen, author of Nothing Down, Creating *Wealth and The Challenge.

On moving back to West Tennessee in 1987, she went into business buying and selling discounted owner-financed notes secured on real estate.  In 1990 Jo went to work for a residential mortgage company and has been a mortgage loan officer for over 30 years.