verypolish1 asked:


I am considering a short sale on the my house, as I am looking at a negative equity situation. I am up to date on my payments, but will have no money to bring to closing. It looks like I will have to sell it for $10K less than I owe on it. I have consulted a lawyer who says it is a viable option. I also understand the waived amount will be taxed as ‘phantom’ income. Is it taxed as a paycheck would be? or like an early withdrawl IRA? Lastly, will it impact my credit score even though I am up todate on my payments, but won’t be able to come up with the diff between what I owe on the loan and what it’s selling for… implementing short sale? Thanks!!

Miss C asked:


I would really like to buy a home, and receive the first time home buyers tax credit. Only my credit score is 589, and my bank gives out loans to 620 and above.

maximos asked:


i have paid in full the federal tax lien filed by the irs, i was wondering by how many points and how soon will my credit score will go up.

jersey_mike76 asked:


After moving out of the state, Fairfax Co VA assessed a 1 time Wage garnishment to me for failing to pay personal property tax. This is a small amount (less than $250) and was paid in full in one pay period.

bpb105 asked:


i have payed rent on time can i get home loan no good credit have 2 of my 3 scores 561 and 591 i filed bankruptcy 2008 cleared and have only auto payment and can i get the 8000 tax credit when do it end also i figured my return 4000.tax return any help for me my rent 600 per month want a hud loan any help

puppylover asked:


YES IF YOU HAVE A CREDIT SCORE OF 585 HOW HARD IS IT TO GET A HOME LOAN? AROUND $100,000? I DIDN’T KNOW IF THEY LOOK ALSO THAT IF YOU ARE A FIRST TIME HOMEBUYER AND GETTING THE TAX CREDIT OF $8,000 IF THAT HELPS ON THEIR DECISION. AND IF YOU WANTED TO BORROW MORE MONEY THAN THAT HOW HARD WILL IT BE? AFTER GETTING MORTGAGE LOAN BORROW MONEY TO PAY OF SOME BILLS. THANKS!

Devans00 asked:


I have several thousand dollars worth of medical bills that I’m being allowed to pay back, interest free over a one year period. Part of the arrangement includes having a lien. That means, if I come into a large amount of money, such as win the lottery, my bill will be paid before I see a cent.

I wondered if my credit score will go down now that the lien is attached to my name.
The lien information will be a matter of public record. I was told that because the lien was medically related, I may be given more slack than other types of liens.

Jen M asked:


I have been on a payment plan with the IRS for a tax lien, and need to settle the lien before I will be able to close on a mortgage. Once the lien is settled, will this raise my credit score, or only show that the lien has been released? Either way, I’m going to pay off the lien.

Troysong asked:


My husband and I are both disabled with a permanent income. We both receive social security disability and will until we die. I am 47 and my husband is 62. the real estate agent we have been dealing with is telling us that a permanent income counts for nothing without a 620 or above on our credit score. Can’t we get a loan from some source other than a bank?

A.J. G asked:


I have some cash and want to improve my credit score. I have an IRS tax lien for about the same amount as my outstanding credit card balances. What would be a better action? Should I pay off the tax lien, currently on installment, or should I pay off credit card debt?