Judgement on Report

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What if the judgement was included in the Bnkruptcy? Do you still have to pay it before getting a home loan?

jbarto65 · Joined: 04 Nov 2007 Posts: 627 0.00 Dollars($)

How does it show up on your credit report? Does it show up under the bankruptcy or the does it show up as a seperate judgement? If it is included in the bankruptcy then it should be reflected as that on your report right?

banker0679 · Posted: Sat Jun 21, 2008 7:45 pm Post subject:

All judgements have to paid off for most types of home loans.
If it was included in your BK, then you need to show proof that it was.

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On the credit reports I have 3 judgements all related to the same landlord. At the time, our child was diagnosed with a costly illness and the insurance company denied all claims - we filed bankruptcy - but not before we were evicted from the home we were renting. There are 2 which reflect as "Satisfied". There is 1 judgment (same landlord - last month - the month we were finally evicted) which shows as Included in Bankruptcy with 2 credit b's but not on Experian. Plus, it still says "Judgment - Not Satisfied). It is not reflected on my bankruptcy papers but somehow the 2 credit b's accepted that because it was prior to our filing - it was included - and they reflected it that way on the credit report. My question still remains....will I have to pay this before we are approved? I will gladly pay it - - but I hear so much conflicting information regarding when to "mess" with things on the report during the process stages. Plus, I want to be prepared with the money in hand - in case it comes up with the underwriters. Please help. THanks.

banker0679 · Posted: Sat Jun 21, 2008 8:47 pm Post subject:

You will need to show proof that it was included.
Underwriters will only take documented proof.

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Thanks banker0679. One final question please...if I pay the judgements now - will it improve my credit score - or make it worse? Should I wait then to pay it until the loan people get back to me about approval/denial? THe loan officer is working on it now - it came back as Approve/Eligible.

banker0679 · Posted: Sat Jun 21, 2008 9:33 pm Post subject:

don't do anything w/out the loan officer's advice.
he may have you pay it later when the underwriter requests it.

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