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HELP!! I need an answer...settlement on 8/23

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Guest in NJ Guest	Posted: Sat Aug 13, 2011 1:40 pm    Post subject: HELP!! I need an answer...settlement on 8/23 Like 0 Dislike 0 We have been approved for our mortgage. There are no judgements on our credit reports, but the title search turned up an old judgement on my husband from 18 years ago. It was brought by the grandmother of his old girlfriend who cosigned a car loan for him when he was younger. He paid her cash installments. He was completely unaware of the judgement until now. The address on the judgement was an old address of his that he had moved from two years earlier. She has either moved or passed away-we're not sure. We think the NJ statute of limitations on judgements is 14 years. Will this keep us from closing on our house....it is a week away? Thanks _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Sun Aug 14, 2011 7:57 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! Your query has been replied to in th given page: http://www.mortgagefit.com/predeal/about52773.html#217487 Take a look at it. I hope it will help you. Sussane
sabrinatoss Community Expert Joined: 16 Jan 2011 Posts: 514 Location: Australia 82.40 Dollars($)	Posted: Mon Aug 15, 2011 12:41 am    Post subject: hello Guest in NJ! Like 0 Dislike 0 From what country are you from? You need to get a legal advice from a real estate attorney in your country since they are more knowledgeable in terms of your country's law towards loans. They will help you to evaluate and have a good analysis with your situation and come up with the best solution for you. _________________ Home Loan, Mortgage Insurance Calculator, Mortgage Broker
jveenstra Community Expert Joined: 10 Nov 2008 Posts: 1310 Location: River Edge, New Jersey 274.62 Dollars($)	Posted: Wed Aug 17, 2011 5:57 am    Post subject: Judgment Like 0 Dislike 0 If you are purchasing in New Jersey, you have an attorney or a title representing you. Ask them. The Lender will probabaly have a problem with an open judgment on title. The Lender does not decide if the judgement is past any statute of limitations and whether it is still owed or not. The Lender just looks at title and says to pay that or get it removed. The title company could insure over it or remove it as an open item. You must ask your attorney/title company what the title company will do with the open judgement. What the title company decides will determine if the Lenedr will close or not. T _________________ John Veenstra, Sr Mortgage Consultant Approved Funding Corp Licensed NJ NY CT PA 201-833-0123x278

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