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I have a fed income tax lien on my record. how will this affect my chances of getting a mortgage?

jameshogg · Posted: Tue Oct 04, 2011 7:55 pm Post subject:

Hi Travis,

Unless you pay off the fed income tax lien or set up a payment plan to pay off the lien, it will be quite impossible for you to get a mortgage. None of the lenders will be ready to offer you a loan in such a circumstance.

Thanks

sabrinatoss · Posted: Tue Oct 04, 2011 11:05 pm Post subject:

Hello travis?

You can dispute any items on your credit report, including public records like judgments, bankruptcy, foreclosure and tax liens. Items such as these have a significant impact on your credit score. The most important thing about legal entries is having the proper disposition recorded. Unpaid and non-released tax liens have no statute of limitations for how long they can show on your credit report.

The method of verification varies also. If you have released liens showing on your credit that are accurate; the likelihood of those "coming off" is very low.

Idea

Posted: Mon Oct 10, 2011 12:15 pm Post subject:

Tax lien will be ahead of any new "first" mortgage so you won't find many lenders willing to make a first mortgage in second lien position

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Federal Income Tax Lien

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