Tax Lien Question
To whom it may concern,
My wife and I were trying to get a mortgage loan for a home. I spoke with a Loan officer today and today and unfortunately, I have a tax Lien for around 7k. He told me that it would be hard for me to get any type of loan until the tax lien is lifted. I see that there are many law firms and groups that offer a service to lift the tax lien and put you on a payment plan. I am a little skeptical of that process, but I would like to see if I can get this lien lifted in order to pursue buying a home. Is there any groups or techniques that you would suggest looking into to lift this lien? Thanks for your assistance
Hello,
I have a few suggestions.
1. I would definitely not pay anyone to have a tax lien lifted. What is it for? back taxes, child support, etc.? It will need to be paid. But you should call the department and set up payment arrangements yourself.
2. Just pay it out of your tax return money, you can pay it at closing (atleast with my company) that way you'll have time to look for the home you want & time to save up as well as use the tax returns.
3. Do you have a 401k or insurance plan with a cash balance??? Utilize the funds available there.
4. This is the creative part...Find a really motivated seller who's willing to take $7k off the sales price or who already has the price marked low....the rest you can figure out.
5. If the lien is in your name only, just put your wife on the loan....
okay, anymore advice & you're going to have to pay me!