Getting a home equity loan with a released tax lien (on another property)

[Anonymous]

I really need to get a home equity loan for emergency cash, but my wife and I both have a tax lien on another property that was released about a year ago. Is there any hope?

[Anonymous]

yes - make sure you have a copy of the release.   most banks want to make sure it is released because a tax lien has priority on a foreclosure.   They don't want anything stopping them if they need to foreclose.....(not saying they will need to).

You may be able to get a lien removed from your reports if you can get it vacated - depends on if it is a state lien or federal.    Check the rules for your state....but many banks will still deal with you if it at least is showing PAID IN FULL

[Anonymous]

Thank you... I've got the advice to try and vacate. Is it just something I file, or would I need to appear before a judge?

[Anonymous]

Usually you can just file it - but some places require a hearing..  Probably would take more time to drive across town to the courthouse than you would be in front of the judge (here I'd be in front of a judge for maybe 15 minutes).  

many times a judge will just sign off on it.....depends on the jurisdiction......