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Can I qualify for an FHA loan w/an old state tax lien?

I know federal tax liens are a blockade to getting an FHA loan for a new home purchase but what about an old State tax lien from several years ago?

I had 2 of them, one of them paid, the other still outstanding.

Also, can seller concessions be used to pay off that state tax lien at closing so it's all taken care of at once?

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

If there is a lien on your property, then it would be difficult for you to get a loan. If the lien has been paid off and you've received a lien release certificate from the creditor, then you won't face issues in getting a loan. You will have to speak to your lender and check out if he would allow you to clear the state tax lien during the closing.

Like | Dislike | Share | Posted: Thu, 04/15/2010 - 04:02

jerryt's picture
jerryt | Joined: April 14, 2010 04:53 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

There's no property...just a lien showing on my credit report but I guess it would attach to anything i bought.

BUT, I was checking the public records yesterday and found that the liens for the specified Book/Page are RELEASED. I went back to my credit reports and Equifax has nothing showing for either of them (fine by me), Experian shows both but neither shows released. TransUnion shows one released but not the other.

Sooo...I guess I just need to get my credit report fixed!

Like | Dislike | Share | Posted: Thu, 04/15/2010 - 04:46

JKennedySLG's picture
JKennedySLG | Joined: April 1, 2009 08:07 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Liens = No Loans

Get the liens and/or credit report straightened out and you'll have a shot. I hope this helps...

Like | Dislike | Share | Posted: Thu, 04/15/2010 - 13:21

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