topic Re: Judgement and UW in Mortgage Loans

Judgement and UW

kwesi — Wed, 07 Mar 2012 19:35:35 GMT

My loan is up with the UW and a judgement just came on my credit report..do wells fargo run credit ones..the just pulled it on the 27th of last months..What to expect?

Re: Judgement and UW

harmstrong523 — Wed, 07 Mar 2012 20:39:24 GMT

My MB told me I would have a soft pull done right before closing to make sure I had no new accounts YMMV though.

Re: Judgement and UW

JM-AM — Wed, 07 Mar 2012 20:47:13 GMT

kwesi wrote:
My loan is up with the UW and a judgement just came on my credit report..do wells fargo run credit ones..the just pulled it on the 27th of last months..What to expect?

I have to agree with poster above as YMMV.

Some creditors, lenders, banks, CU's, etc etc... will run your CR just before closing especially if didn't close with-in 30 days. While others will not run another CR if closing with-in 30 days. Every ones situation is different, but your broker should know how the lender usually proceeds before closing. Just ask your broker what their policies are?

Re: Judgement and UW

mlearma — Wed, 07 Mar 2012 22:30:14 GMT

We had our credit pulled 1/9 by the broker and then 1/19 by the lender. We closed 2/27 and never had another credit pull since the one on the 19th. Best of luck.

Re: Judgement and UW

DallasLoanGuy — Thu, 08 Mar 2012 00:24:52 GMT

Did you know about it when you filled out the application?

If not, call your loan officer and tell them about it.....

Re: Judgement and UW

kwesi — Thu, 08 Mar 2012 16:56:04 GMT

It just came on 2 days ago. I ask my LO about it and she told me that they do a solf pull..don't know what that do? I paid the person the day we walk out of court..this is crazy..I ask the Judge about this and she told us if it paid before 90 them it don't go on credit file..CRAZY..

Re: Judgement and UW

webhopper — Thu, 08 Mar 2012 21:30:49 GMT

Do you have a receipt from paying the person.... Its possible to do a Rapid rescore if you have documentation to support the fact that this is an error.

Re: Judgement and UW

kwesi — Thu, 08 Mar 2012 22:18:59 GMT

The court gave me something stated that it is paid..

Re: Judgement and UW

Booner72 — Thu, 08 Mar 2012 23:10:32 GMT

If you paid as you walked out of court then was a judgment even issued?

The CRA's have people they pay that patrol the court houses for things to report. Often times, those people just go on a case # and report a judgment when in reality, there was no judgment. (The judge wouldn't know anything about credit reporting, IMO).

You should go immediately to the courthouse and get a copy of your file and see what actually is there.

IMO, people don't think their credit was repulled because it's a soft hit. I can't imagine any lender not doing a final check on someone's credit before issuing them that big of a loan. They did for us both times - the first time we lost the house bc of what showed up (judgment)... and then this past summer when we got our first house.....10 years after the first.......Don't let that happen to you - don't get in neck - deep only to have it all pulled out from under you the day you are supposed to get your keys. It's awful and you never get over it. Take care of this now to prevent further pain, money, and anguish.

I hope you find that there is no judgment. If you do - you need to do a dispute with the CRA's.

i wish you all the best!

Re: Judgement and UW

kwesi — Fri, 09 Mar 2012 20:33:20 GMT

The judge did place a judgement for $700 of the $2000 that the person whated why we had to go to court...I paid it but the CRA does not show that,,Should i go to the court and get all the info and send it to the CRA?

Re: Judgement and UW

Booner72 — Fri, 09 Mar 2012 22:03:10 GMT

Well, if there was a judgment and you are sure of it, then there isn't a way to dispute it then if it is reporting correctly.

Re: Judgement and UW

Brian_Trying_700 — Fri, 09 Mar 2012 22:14:53 GMT

File a dispute. 95% of the time you will win. Im in the same boat.

Re: Judgment and UW

StartingOver10 — Fri, 09 Mar 2012 23:53:26 GMT

No, don't file a dispute.

You paid the judgment already. Did you record the Satisfaction of Judgment you received that day at court? It sounds like you got the "Satisfaction" and didn't record it. If it is recorded, then get a certified copy of the recorded satisfaction and supply it to you lender and to the CRA's .

Judgments last a lot longer than debt. In many jurisdictions they last for 20 years. Check your state's statutes to see how long the judgments last there. Even if it were not on your report, you still have to have the Satisfaction recorded because the title company/attorney will run your name and info to see if you have any outstanding judgments.

Filing a dispute in this particular instance won't solve your problem.

Re: Judgment and UW

kwesi — Sat, 10 Mar 2012 04:15:01 GMT

Will go up to the court on Monday and get all the paper work..

Re: Judgment and UW

kwesi — Fri, 13 Apr 2012 19:48:17 GMT

CLOSED..SO HAPPY..IF YOU NEED TO KNOW HOW TO GET IT DONE..I WILL BE ABLE TO HELP..I HAD TO GO THROUGH IT ALL..EVERY THING THAT CAN HAPPEN IT WENT THROUGH..FHA, VA, COV, 203K, AND CONSTR, LOANS..I KNOW IT UP AND DOWN..CREDIT REPAIR I WENT FROM A 477 TO A 653 IN 10 MONTHS..DID IT ALL MY SELF..WITH SOME HELP FOR THE MAN ABOVE..I AM HERE TO HELP..LET ME KNOW..

Re: Judgment and UW

DallasLoanGuy — Fri, 13 Apr 2012 20:01:27 GMT

cool

Re: Judgment and UW

Sunshine85 — Sat, 14 Apr 2012 01:21:04 GMT

Congratulations! Enjoy your new home!

Re: Judgment and UW

kwesi — Thu, 24 May 2012 16:05:37 GMT

THANK YOU MYFICO FORUM..VERY HAPPY WITH MY NEW HOME AND THE MORTGAGE RATE IS 3.75% FOR 30YEARS FIX..LOVE IT..

Re: Judgement and UW

pizzadude — Thu, 24 May 2012 16:17:45 GMT

kwesi wrote:
It just came on 2 days ago. I ask my LO about it and she told me that they do a solf pull..don't know what that do? I paid the person the day we walk out of court..this is crazy..I ask the Judge about this and she told us if it paid before 90 them it don't go on credit file..CRAZY..

If there was a judgement recorded from the court then it can show on your reports at anytime, regardless of when you pay it. If the court vacated the judgement then that is a situation where it should not show on your reports.

ETA: Congrats on your new home ! I'm really glad that it worked out and that you were able to close :)

Re: Judgment and UW

sewmuchdebt — Thu, 24 May 2012 17:49:03 GMT

congrats