I had just finished this nice long question regarding my situation when the ol' computer did an "illegal operation" on me. Here we go again. I am a business owner with an IRS tax lien on me for about $40,000. I have been paying $250.00 per month towards it for several years (I have an installment agreement) and I have to keep paying monthly thru March of 2005. Basically, the loan won't be close to being paid off but the IRS only has 10 years to collect. I don't want to try and do a OIC because I am happy with the low monthly payment (accountant agrees) and basically don't want to "rock the boat". In the next year or two, I would like to purchase a home. My credit reports should be in pretty good shape by then and I have been able to knock off the $40,000 + lien on all my credit files. Question is, are there any mortgage lenders that only use credit files in making a loan and don't pull public records? If not, and they see the lien on my records, will a copy of my installment agreement with the IRS suffice in getting the loan approved or is it that you can't have a lien when obtaining a home loan? And finally, I had asked this question on another thread earlier today, how do lenders look at released tax liens when determining a loan? Do released tax liens lower your FICO? Any help will be GREATLY appreciated!!!!! IV
