Tax Liens and Credit Reporting Changes

Did you know that Tax Liens are no longer reported on credit reports? This means that, if you have a tax lien, your credit score could have increased dramatically

However, if you are looking to buy, the tax liens will likely be discovered in the loan underwriting process and/or through the Title Company’s search… Why is this important? Because if you still owe money on that tax lien, it will likely need to be paid and it could impact your cash reserve requirements, cash to close and could cause the loan not to close – ouch!

Let me know if you have any questions and if you want to learn more about how to potentially remove tax liens, click here: How to remove tax liens.

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