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I had a Tax lien assesed on 09/09/1996...I have paid more than 90% of what was owed but the 10 years statue of limitation ran out so i was told that the "Notice of Federal Tax Lien" from the county clerks office would be enough for a lender becuse it shows no other liens are being filed. Can i get an FHA loan my credit score if 700

Niicss · Posted: Tue Jan 26, 2010 2:23 am Post subject:

It is good to note that you've paid off 90% of the tax lien. However, it is always better to pay off the tax lien in full and then apply for the loan. As 10 years have passed since the tax lien was placed and as you've a credit score of 700, you may be able to qualify for a FHA loan.

Have you spoken to the FHA lenders of your area? If not, then I would suggest you to do so. They would be able to let you know whether or not you would qualify for a loan. You can also seek a no obligation free mortgage consultation from the lenders of this community. This will help you know whether or not you would get a loan.

gmakerley · Posted: Tue Jan 26, 2010 11:45 am Post subject:

if you're at 90%, i would like to think that there'd be a release of that lien forthcoming from the irs, based on what you've described. i don't know what a "self-released" lien is - never heard that terminology anywhere. the "notice of lien" would scare away most lenders, though. you are going to need to get clarification - likely from the irs itself - that you do or do not owe any additional sums under that lien, and ultimately the lien must be released.

"so i was told" depends on who was doing the telling. if it was on the street, then you know how reliable that will be. if it was from the county clerk, then i wouldn't run with that either. if you heard it from the irs, but they've not sent in a release, then i don't think i'd believe them either.

who in the world told you that foolishness - that the notice would assure others of no intervening liens?

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Self-Released tax Lien