11-11-2009 11:31 PM
Hello all, I posted here and just checked if I was ready to apply for a mortgage. Well the tax liens are keeping me from it. I have a release for the IRS one, LO says ok good to go. The state tax lein is on my report for $5818.00 and it was covered by the 2003 BK, the tax and the lien. I had my lawyer ask about it the day it was discharged. Well LO says it must be paid off, I send all paperwork into her and she says BK paperwork won't do. Has to be paid off. Well I don't know what to do the $5818 has went to $24000 and I can't get the state of NJ to reply to my RIF. So anybody know a Mortgage Loan Company that will look at the paperwork and give me a loan. TU and EX have removed both tax liens from report, EQ does nothing but verify them.
TU 662 EX 662 EQ 625
11-12-2009 07:54 AM
Your LO is might be ignorant. If it was really discharged in bankruptcy then it should not be on your credit report. So there are three options.1)Ask the loan officer why it would effect your application, since it has been discharged, and ask him/her to double check with her supervisor.
2)Go through these forums and find people who had similar problems with items discharged in bankruptcy still appearing on their credit report. Then send the letters out to get it removed. Then you can reapply. 3)Find a lender who will accept the BK papers you have as proof that it was discharged.
11-12-2009 08:04 AM
11-12-2009 08:30 AM - edited 11-12-2009 08:35 AM
Tax debt can be discharged in BK if its more then 3 years old. I would double check your creditor matrix and make sure the state lein is listed and also double check your discharge paperwork and make sure it says all debt was discharged. It sounds like the state does'nt know it was discharged if its gone from $5000 to $24,000. If it is listed in your paperwork I would contact your bk attorney for assistance and/or take all of your bk paperwork including creditor matrix and discharge paperwork to the tax office in person. You also may want to try posting this in the bk forum.
edited to add- also if there was a lein before you filed that lein does'nt go away just because you file bk- you have to actually go to the tax office and have the lein vacated. That could also be the problem.
11-12-2009 04:39 PM - edited 11-12-2009 04:43 PM
It is on the BK paperwork 2 times. Once for the tax lien, which was filed in 1995 and once for the tax year that the lien was flied on. First one is listed as the Bankruptcy Dept of the NJ taxation, then it is listed as the NJ dept of taxation. My lawyer has told me that 2 letters went out to them. So I will post at the BK forum and see where it lends me. Thanks
The underwriter is the one who says it must be payyed off.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.