Federal Tax Lien Removal/Impact
Has anyone had any success on getting a Federal Tax Lien removed. I have a client I am trying to get in on a Lease/Purchase, but I am leary of the impact on getting them funded down the road. I have never come across this before.
The lien shows $7K due last updated in July 04 and they have a letter from the IRS date 9/04 that shows they paid $4k and have just under $3K left to pay.
If it shows paid, what impact does that have with potential future lenders?
:-?
Getting it to reflect as paid will not affect their credit score much. It's mere presence is what brings down the score. However, the fact that it is paid will help them when dealing with a bank (although their rate probably won't be the best). I leave that part of the answer to the mortgage brokers around here.