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Tax Liens and Judgements to Come Off Credit Reports

Tax Liens and Judgements to Come Off Credit ReportsTax Liens and Judgements to come off many consumer’s credit report

Effective July 1st, 2017, Transunion, Equifax and Experian will be excluding tax liens and some civil debts/judgements from consumer’s credit reports. The Consumer Data Industry Organization has stated that this initiative is to ensure consumer identifications are accurate and current.

In a move that will boost many consumers credit scores, the three main credit reporting agencies will remove tax liens and civil debts if reports on those particular obligations do not include: names, addresses, and social security numbers and/or date of birth according to the CDIA.

Federal law requires that accurate information is provided to ensure accurate credit reporting. Consumers have complained that paid debts are still appearing on their credit report. The National Consumer Assistance Plan will help consumers with prior challenges to obtain loans they otherwise may have been declined.

This is really good news for the housing market obviously, as this news will have an immediate impact on about 10% of Americans. Couple this information with my prior blog on low down/no down payment mortgages and you end up with great news for many people. With the Dow over 20,000, looser credit guidelines and this recent news on credit reporting; times are looking pretty good.

Posted in: Credit Report, Mortgage, Real Estate, Uncategorized Tagged: credit report, credit report update, credit scores, equifax, experian, judgements, tax liens, transunion

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KATHLEEN’S BLOG

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Kathleen has lived in Florida for over 30 years and love all the sunshine state has to offer. Kathleen earned my brokers’ license in 1987 while working for a custom home builder with locations in Stuart and Central FL. She utilizes over 24 years of mortgage experience to overcome, anticipate, and strategize all real estate transactions. Re/Max Logo

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Kathleen is extremely experienced and personable. She has excellent negotiating skills as well. She treats my entire family with care and respect and always goes the extra mile.

Brody Z.

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Kathleen Mahoney, Realtor®

404 Broadway Av Kissimmee, FL 34741

407-701-5911
kmahoneymeikle@gmail.com