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Dewwi_2 · Joined: 27 Aug 2009 Posts: 1 1.30 Dollars($)

My question is that my father past away and left land to me that is paid for but i have I.R.S and State tax liens.My credit is really bad, how do i go about getting a loan on an older mobile home,two car garage and the land thats paid for? Can this be done?...I have 2.5 acres of land, a 2 car garage and an older 1977 single wide thats in great shape. Bad credit with liens in place on it. Any advice please?

Niicss · Posted: Fri Aug 28, 2009 2:53 am Post subject:

With a bad credit, it would be impossible for you to get a loan. If you keep in mind the current market situation, lenders won't even consider giving you a loan if you have a bad credit. For FHA loans, you would require a credit score of 620 whereas for conventional loans, you would require a credit score of 720-740.

It would be better if you could improve your credit score first and then apply for loans. You can check out the given page to know some steps to improve your credit score:
http://www.mortgagefit.com/credit-rating/credit-repair.html

As far as the IRS lien is concerned, you should contact them and check out if you can get a repayment plan in order to clear the tax dues.

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