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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: 622 -0.15 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.

Guest

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.

Guest

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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Judgement on Report