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Getting a Mortgage with an IRS Tax Lien

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Muchulalala
New Visitor

Re: Getting a Mortgage with an IRS Tax Lien

Tax lien explanation letter

I have been asked to give a State Tax lien explanation letter.  What should I say?

Message 11 of 14
Muchulalala
New Visitor

Re: Getting a Mortgage with an IRS Tax Lien

Did you have to give a Tax lien explanation letter? If so what did you say.

Message 12 of 14
ShanetheMortgageMan
Super Contributor

Re: Getting a Mortgage with an IRS Tax Lien

I usually recommend people stick with the truth Smiley Happy

 

Any explanation letter regarding derogatory/delinquent credit should cover what happened, why it happened, and what steps you've taken to prevent it from happening again.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 13 of 14
rckstrscott
Valued Contributor

Re: Getting a Mortgage with an IRS Tax Lien


@Muchulalala wrote:

Did you have to give a Tax lien explanation letter? If so what did you say.


Here is what I had on my lien LOE

 

Dear Sir or Madam:

 

This letter provides an explanation for the following issue:

 

Paid Tax Lien. Kendall County Court, Illinois. $1374

 

I have a listed tax lien from 2006 in the state of Illinois. I received this lien because of an

incorrect state filing the year before. I have corrected this by hiring an accountant to do

my taxes going forward.

 

 

-scott

Starting FICO Score: October 2010: TU 498 | EQ: 502
Current FICO Scores:: May 2022: TU: 784 | EQ: 770 | EX: 790
Message 14 of 14
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