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Score change for satisfaction of lien?

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tonsers
Frequent Contributor

Score change for satisfaction of lien?

I know that a paid public record is as bad an unpaid just because it is there - but the impact should be less over time, correct?

 

If the status of a tax lien is changed from UNPAID to PAID with a date of 2.5 years ago - should I expect any type of score increase?  Not because it is paid, but it now should be older???

 

My dad is just under a score needed for a mortgage - hoping this might give him the few points that he needs!  Smiley Wink

 

Thanks so much!  Smiley Happy

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Anonymous
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Re: Score change for satisfaction of lien?


@tonsers wrote:

I know that a paid public record is as bad an unpaid just because it is there - but the impact should be less over time, correct?

 

If the status of a tax lien is changed from UNPAID to PAID with a date of 2.5 years ago - should I expect any type of score increase?  Not because it is paid, but it now should be older???

 

My dad is just under a score needed for a mortgage - hoping this might give him the few points that he needs!  Smiley Wink

 

Thanks so much!  Smiley Happy



It didn't for us. Not one single point. However, we paid it and then pulled our scores when it posted to our CRs ... so if the satisfied date's been updated several years ago, YMMV.

 

BUT, before the lien was satisfied, no creditor/lender would touch us with a ten-foot pole. Now that it's been released, we've been able to acquire two sub-prime CCs, one prime CC (at least, I *think* WaMu $2500CL is prime) and a Wallymart store card.

 

Also, if he's going to attempt an FHA or VA mortgage loan, a tax lien, IIRC (especially a Federal tax lien) will HAVE to be either satisfied or in a payment plan.

 

I honestly wish you guys luck!! I hope the lien is no more than a teen blip on the lender's screen!

 

Keep us posted!!

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