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can you get an fha mortgage with tax lien and some judgements

tax leins and judgements are over 3 years old

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have a judgement for 2006 that was 55000 and i have paid it down to 27000. as of 2013, is there a chance that i could get a mortgage with this on my credit report

Like | Dislike | Share | Posted: Sat, 05/18/2013 - 09:48 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have learned that both underwriters and loan officers are totally incompetent on this issue. FHA and Va guidelines expressly state that you can get an FHA or VA loan with an IRS lien if you have a satisfactory arrangement with the IRS - not payment plan - arrangement - they are not the same.

You need to shop around for a broker who can state to you they know the guidelines - anyone interestd can simple google VA loan guidlines handbook

Like | Dislike | Share | Posted: Thu, 05/06/2010 - 17:03 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Bobby, your criticism is a little harsh. What "guidelines" state isn't necessarily the end of the discussion. Many lenders are choosing to ignore the liberal nature of the guideline and they're going with a more conservative approach. Just because you're allowed to do something won't mean you're going to do it.

I don't take issue with your recommendation that people seek out someone who can lend per guidelines, but to say these folk are incompetent because of this issue isn't right. They might be incompetent for a lot of other reasons, but not necessarily here....it all depends on how their individual companies choose to interpret the guideline.

Like | Dislike | Share | Posted: Thu, 05/06/2010 - 19:40

jerry's picture
jerry | Joined: October 17, 2005 03:24 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Suprson,

If you have any kind of lien mentioned in your credit report, then the lender - be it conventional or FHA, will want you to satisfy it and then go for a refinance. Once you pay off the lien, you will be able to get the loan. You may ask your friends or relatives whether or not they can help you with a gift of 2k so that you are able to pay off the lien and refinance the mortgage.

Thanks,

Jerry

Like | Dislike | Share | Posted: Tue, 06/01/2010 - 03:46

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome barbara,

In order to place a lien on the property, they will have to file a lawsuit against you in Texas and get a judgment. If they can manage to get a judgment against you, then they will be able to place a lien on that new property.

Like | Dislike | Share | Posted: Thu, 12/27/2012 - 20:51

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi tcarney!

Welcome to forums!

Do you want a mortgage when there is a federal tax lien mentioned on your credit report? It will be difficult for you to get a loan. The lenders will want you to pay off the lien before they approve you for a loan. However, if you set up a payment plan with the IRS regarding your tax lien and start paying it off, then you will be able to get a loan.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Tue, 03/22/2011 - 00:09

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest!

Welcome to forums!

With a credit score of 685, you'll be able to qualify for a FHA loan. However, it would be better if you could pay off the credit card debt that is showing up in your credit report. This will help you in improving your credit score to some extent. I would suggest you to contact the lenders for FHA loan and check out whether or not you qualify for it. You can even speak to the lenders of this community and seek a no obligation free mortgage consultation from them. This will help you know the type of rates and terms that you would get from the lenders.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Mon, 01/11/2010 - 23:27

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi!

Welcome to forums!

To mimi,

A federal tax lien may stop your mortgage modification. The lender will ask you to pay off your tax lien before he approves the modification.

To rrl,

Your wife can [url=http://www.mortgagefit.com/Mortgage-Basics/do-i-qualify-for-a-mortgage.h... for a mortgage[/url] solely in her name. There won't be any problem in that.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Mon, 02/07/2011 - 23:24

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Yes, it's delaying it alright. I didnt even think about paying the installment agreement as it's been automatically taken out of my checking account and it's such a low amount I dont notice. Would you have any idea what the process is now and how long the underwriter will take just to re-calculate the debt to income ratio? Or do they have to re-do the entire closing packet?

Like | Dislike | Share | Posted: Tue, 03/16/2010 - 21:27

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

a judgment - especially a paid judgment - will not have the same effect as bankruptcy. think about it...a bankruptcy allows a debtor to write off several different debts, while a judgment is strictly relevant to one debt, and the payoff of a judgment is a positive move, as opposed to letting it sit on the report. and yes, negatives stay on the report for 7 years.

Like | Dislike | Share | Posted: Mon, 03/22/2010 - 12:22

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi papajohn,

As far as I know, unless you pay off the tax lien, the lenders will not be ready to give you a mortgage to buy a property. However, I hope your wife does not have the tax lien mentioned in her credit report. She has a good credit score as well. Thus, she will be able to apply for a mortgage in her name.

Thanks

Like | Dislike | Share | Posted: Wed, 05/19/2010 - 03:03

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi, I'm trying to buy a house for the first time through FHA loan, but I have a default judgement showing up in the report for $15K from COLONIAL CREDIT CORP dated back in 2006. My FICO score is 685 and have been paying all my bills (two car loans and 4 credit cards with low balance) on time, never missed any payment. What is my chance in getting FHA loan, or any mortgage loan for that matter?

Like | Dislike | Share | Posted: Mon, 01/11/2010 - 18:32

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I'm set to close on a house on 03/15/10. I owe a couple thousand in back taxes and have an installment agreement through the IRS (have been paying on for months). Apparently, my mortgage broker just now saw my IRS transcripts (11th hour style) and is needing paperwork about my installment agreements, etc. At this late hour, it's too late to even pay the tax in full as I will not get proof of payment in time. Is this going to kill my FHA loan??

Like | Dislike | Share | Posted: Thu, 03/11/2010 - 21:10 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

can a federal tax lien stop a fannie mae mortgage mod

Like | Dislike | Share | Posted: Fri, 02/04/2011 - 11:40 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i have a credit score over 750 i applied for a usda and got approved for a loan, i have a judgement that is not on my credit from 6 yrs ago who will this affect the loan.

Like | Dislike | Share | Posted: Mon, 05/07/2012 - 09:31 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi jspot,

A tax lien can pose a problem for you when you try to take out a mortgage. However, as you've made arrangements to pay them off, then you should inform the lender about the same. This may increase your chances of getting a mortgage loan.

Hi chocolate,

A judgment will be considered as a negative item on your credit report and will definitely affect your chances of getting a mortgage. It would be better if you could pay off the judgment and then apply for a loan.

Thanks

Like | Dislike | Share | Posted: Sat, 07/10/2010 - 00:36

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband and I just got married in May. I am purchasing a home in my name only based on my credit and income only. The loan officer still pulled my husbands credit and saw there is a tax lien on his credit. Is this going to stop me from getting an FHA loan?

Like | Dislike | Share | Posted: Wed, 10/13/2010 - 07:21 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband and I got qualify for a home and had a closing date. I informed the lender if he had noticed the tax lien on me and my husband which was on our credit report and this had caused problems before. He said he thought it was satisfied but even I know it would have been listed on the credit report as satisfied. He said he would take it to the underwriter. What are our chances?

Like | Dislike | Share | Posted: Sun, 09/27/2009 - 10:10 | Post subject:

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Your lender will again run a credit check before finally approving the mortgage. Depending upon the final credit check, you may or may not get a loan.

Like | Dislike | Share | Posted: Wed, 03/10/2010 - 01:02

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Guest,

The whole issue is extremely complicated and it would be better if you could consult an attorney in this regard. As the court has passed a judgment which orders you to pay the required amount, the lender will want you to pay off the dues and have a release certificate from the court. If you do not have the required amount, lenders will not be ready to give you a mortgage.

Like | Dislike | Share | Posted: Sun, 02/28/2010 - 20:45

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi mandy,

Unless the seller pays off the lien, she won't be able to get a clearance certificate. She will have to pay off the lien in order to get a lien release certificate.

To Guest,

As the mortgage will be solely in your name, your husband's lien won't affect your chances of getting a loan. However, it's better to not add your husband's name to the property as there is a tax lien on his name.

Like | Dislike | Share | Posted: Thu, 10/14/2010 - 03:15

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

As you've an installment agreement with the IRS, I don't think you would face problems in getting a loan. I would suggest you to contact your lender and apply for a loan.

Like | Dislike | Share | Posted: Mon, 04/12/2010 - 04:07

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I also have a tax lein and I have been making payments to them , which we both agreed on I have a steady job 6 years good income as does my wife will I qualify for FHA lOan with tax lein even know I'm on a payment plan in good standing with them bud750 aol com

Like | Dislike | Share | Posted: Tue, 11/29/2011 - 04:57 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

if i have tax leins on my credit report due to my bussiness my wife credit score is 754 can she still get a home line of credit also our house is paid off

Like | Dislike | Share | Posted: Sat, 02/05/2011 - 05:25 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Jerry.Thanks for the reply. The only thing that I dont get is WHY do I have to pay for that lien before they approve me? Can it be satisfied after they approve the loan?
I dawned on me this afternoon too that if this loan doesnt go through then its not a big lost...I figured Im forking out almost 9k on all the fees pmi and im only getting 10k cash out

Like | Dislike | Share | Posted: Tue, 06/01/2010 - 20:55

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome Bud,

If you have a payment plan to pay off the tax lien, then there are high chances that you will be able to qualify for a FHA loan. You should start contacting the local lenders and apply for a mortgage with them in order to find out what type of rates and terms you will qualify for.

Like | Dislike | Share | Posted: Tue, 11/29/2011 - 20:20

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi betty,

If you are paying off your taxes as per that federal tax repayment plan, then you won't face any problems in getting a mortgage provided you have a good credit and employment.

Thanks

Like | Dislike | Share | Posted: Fri, 01/27/2012 - 22:59

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I have been on a federal tax repayment plan and there is no judgment against ya will that keep us from getting a vat loan credit is good

Like | Dislike | Share | Posted: Fri, 01/27/2012 - 14:42 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi guys..Im in the same boat as the others but the lien we have on our house for 2k is from a credit card company.
I already told the mortgage broker about this and now the underwriter approved our loan with some conditions and we met 2 out of 3...the last condition was that we pay off that 2k lien on our house. The house is on my wifes name and mine but shes the primary owner sort of. I acquired the credit card at the time my name wasnt even on the house yet and she has nothing to do with that card but I guess we live in a community property state it is now considered hers too. Is this a regular fha guideline to ask to pay off the credit card lien first before our loan can be approved? To me it sounds stupid , reason why were trying to [url=http://www.mortgagefit.com/refinance.html]refinance[/url] is because we need the money. The 2k lien is guaranteed to get paid and included on our loan contract so I dont see why the underwriter is making such a big fuzz over that 2k.

The way I look at it is if they approve it the 2k is in the contract and guaranteed fund to pay for that lien. Its not like were not going to pay it.

Our income to debt ratio is at 40% so I don’t see why we have to pay for the lien now ..Its not like were trying to get our income to debt ratio down and by paying off the lien would help..that is not the case .

The only thing that’s holding this loan back is the 2k lien..The problem is we don’t have 2k right now. We cant borrow any money because thatll probably raise our income to debt ratio and its not even sure if we can even qualify for a 2k loan

Any suggestions is greatly appreciated

Like | Dislike | Share | Posted: Fri, 05/28/2010 - 21:07

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

recalculating your debt ratio should be instantaneous. the closing package will need to redrawn, yes; but most of that has to do with the dates. your ratio ought not to affect the documents themselves in any way, shape or form. the biggest issue that i can see them having is the existence of the lien to begin with.

Like | Dislike | Share | Posted: Wed, 03/17/2010 - 09:36

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

mya gal, it all depends on who the lender is, frankly. many lenders will now require that any collection account be paid in full before granting a loan. you may find someone who'd allow that account to remain open, but i'd surmise that even then you'd be required to make payment arrangements with that creditor in order to get an approval. your score is fine, but that's not the only portion of the credit report that is perused. a collection of that amount stands out like a sore thumb (nice cliche, eh?). you may have to check around with a variety of lenders before you get finality on whether or not you can be approved.

Like | Dislike | Share | Posted: Tue, 01/12/2010 - 07:35

KathreenW's picture
KathreenW | Joined: November 20, 2010 03:35 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

I'm kinda in a similar situation I had a judgement on my credit and trying to get a FHA loan. I also had dispute with creditor for a bill that I paid back in March 2010 now i have to wait on satifaction letter. I pray I can move forward now.
Kathreen

Like | Dislike | Share | Posted: Sat, 11/20/2010 - 17:50 | Post subject:

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

As there is a lien on the property, it means that your house is not free and clear. Thus, you need to pay it off in order to get a mortgage. As far as I know, the lender will want you to pay off the lien before you secure the mortgage.

Like | Dislike | Share | Posted: Wed, 06/02/2010 - 03:28

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Can I qualify for a mortgage with a tax lien? I have been making payments for eight months. My credit score is 687. Do you of any mortgage companies I can speak with concerning my situation? I live in Alabama.

Like | Dislike | Share | Posted: Sat, 01/22/2011 - 07:11 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I just want to know where to go or who to call to make payment arrangements to a loan modification on our home. We defaulted twice and got 2 loans from HUD to become current on our payments and that put a lien on our house to be repaid.

Like | Dislike | Share | Posted: Wed, 10/21/2009 - 16:25 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

i saw on another site that a paid judgement stays on your record for 7 years and is as bad as bankruptcy?

Like | Dislike | Share | Posted: Sun, 03/21/2010 - 11:39 | Post subject:

jameshogg's picture
jameshogg | Joined: December 20, 2005 02:58 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi nikki,

If the judgment is not mentioned on your credit report, the lender won't find it. I don't think you'll face any issues in getting a mortgage.

Thanks

Like | Dislike | Share | Posted: Wed, 06/15/2011 - 23:19

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I currently working and have a income of 125,000/year. I owe IRS 46,000
I am currently in the process of making payment arrangements. My credit
score is 613,650,639. I do not own any property. I also have a medical
judgement that was paid by my insurance company. This judgement remains on my credit report despite numerous letters to Credit Companies. Will I qualify for a first time home lone today.

Like | Dislike | Share | Posted: Mon, 04/12/2010 - 15:28 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Adonis, Thank you for the reply.

I agree that funds on hand are required, but that is not the issue here. In fact, BofA did not care that I have the funds available, they only cared about the "judgment" not being satisfied.

BTW, I am working with my Family Law attorney. I have not yet consulted with a real estate attorney. Right now, we're trying to see if there is a way to have opposing counsel satisfy the judgment since they are in receipt of the check that was delivered for satisfaction.

Like | Dislike | Share | Posted: Mon, 03/01/2010 - 12:43 | Post subject:

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome Kathreen,

Your query has been replied to in the given page:
http://www.mortgagefit.com/predeal/about46907.html#192600

Take a look at it. I hope it will help you.

Like | Dislike | Share | Posted: Mon, 11/22/2010 - 01:48

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

My husband and I are trying to purchase a house. The value of the house is approx. $325,000.00 and we are able to buy it for $300,000.00. We are able to make a down payment of $60,000.00. Our credit rating is around 610 showing all recent debts being paid on time. Because we have a federal tax in for $90,000, employment taxes we have been told by many people that we not never be able to purchase a house until it is paid. We have been on a payment plan with the Irs for more than 2 years and have made every payment on time. It is possible for us to get a mortgage?

Like | Dislike | Share | Posted: Mon, 05/17/2010 - 17:39 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

we r in the process of selling our house. at the last minute at 20k judgment lien was found by underwriter of the person we are selling the house to. this judgment is 20 years old and against her exhusband. at the time they were married, i guess her name was on some things and the lien occurred after the divorce. is there any way she can get a clearance letter. everything has been halted

Like | Dislike | Share | Posted: Wed, 09/29/2010 - 11:03 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi, I was told that I can get a mortgage loan if the judgement does not show up on my credit, But I was also told that they will do title search on me before I can get a loan, But I was also told as long as it's not on my credit they do not care because the title search is done only on the seller, I can not afford to pay the judgement it is $33, 850.00 from a mortgage I had in 1999

Like | Dislike | Share | Posted: Wed, 11/03/2010 - 19:03 | Post subject:

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

janet, please explain: is the tax lien satisfied? if anyone will know that answer, it is you and your husband. the lender wouldn't know, and if you have already been qualified (approved?) and have a closing date (proposed or real?), then the underwriter would have already seen and taken action on an unsatisfied lien.

Like | Dislike | Share | Posted: Mon, 09/28/2009 - 07:56

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

This is VERY complicated. My mother wasn't able to make payments on her conod any longer as of a few years ago. My brother offered to make them. But, instead he dediced to buy the house from her and put it in is wife's name. He then paid off his new mortgage while she lived there and paid rent to him. Now, he can't make payments any longer. She began to make them again for awhile. But, couldn't any longer. He decided he wants to sell the house. She is VERY upset. She thought maybe she could get it back in her name and take out a reverse mortgage. She would need a friend to take out a loan to pay off my brother first. Then get the reverse mortgage. She doesn't want to lose the house. She is in her 80s and doesn't want to and can't move because her credit rating is BAD. She has judgements. Can she do what I mentioned. Someone has put in an offer on the house already. My brother wants them out in a few weeks.

Like | Dislike | Share | Posted: Sat, 07/30/2011 - 20:10 | Post subject:

smith.sussane's picture
smith.sussane | Joined: September 18, 2008 09:57 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hi Denise!

Welcome to forums!

As you have a federal tax lien, you will have to pay it off before getting a mortgage. Lenders will not give you a mortgage unless you clear off the dues. It is good that you have a payment plan with The IRS. This will help you in paying off the dues quickly and then you can apply for a mortgage.

Feel free to ask if you've further queries.

Sussane

Like | Dislike | Share | Posted: Tue, 05/18/2010 - 00:53

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Hello,
I'm would like to purschase a home, we've been discharged from bankrupsy 3 years this October, there was also a foreclosure over 4 years ago. We have a federal Tax lein $7, 800.sti outstanding, but due to just myself working, its in the uncollectable state. Can we still qualify for a loan?

Like | Dislike | Share | Posted: Tue, 07/27/2010 - 14:36 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

there is 25000 irs tax lien on the credit reports of both my and myself. it is the only negative thing on the report. we earn over 160000k a year. we have been paying on this lien for over a year. While nervous, we want to see if we can qualify for a mortgage with putting between 5% and 10% down on a property that is 158900.00. What are the chances that we'd be approved for a mortgage

Like | Dislike | Share | Posted: Wed, 09/14/2011 - 06:58 | Post subject:

Anonymous's picture
Anonymous | Joined: June 8, 2004 01:06 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

I am in process of buying a house, i have an old judgement which is not on my credit report, i have been making monthly payments to creditor. Will bank find out about the judgement if its not on my credit report?

Like | Dislike | Share | Posted: Wed, 06/15/2011 - 07:34 | Post subject:

Niicss's picture
Niicss | Joined: October 3, 2005 11:54 pm | Posts: 0 | Location: New Jersey | 00 Dollars($)

With an IRS tax lien and medical judgment on your credit report, it would be difficult for you to qualify for a loan. You can talk to the local lender and check out if they can help you in this regard. There are high chances that you won't be getting the loan due to the negative items on your credit report.

Like | Dislike | Share | Posted: Tue, 04/13/2010 - 04:01

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