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New Member
Posts: 4
Registered: ‎01-20-2013
0

FHA mortgage mess!! Please help!!

Ok, here we go. So I had a house built through Ryan Homes and applied with their mortgage company back in January. Well back in Jan I had a judgement and a collection. Since then I have had those two items deleted from my credit report. Well for whatever reason the mortgage company simply cant pull a new credit report and needs a "credit supplement". Well its my understanding a credit suppllement is when they call the creditors to confirm its been paid or not.

Well the creditors will ofcourse say I still owe the debt, but it has been deleted from my credit report. So my dilema is this. Cant I just simply apply with another lender, have my old lender transfer the FHA number and just have the new lender pull the new credit report which does NOT show the judgement and collection? I mean why would I stay with lender A if they say "well you need to pay off this $5,000 judgement" when I can simpy go to lender B, pull a brand new credit report that has no judgement and just use the new lender and it will be as though that judgement never existed and be smooth sailing with the new lender? Am I missing something?
Regular Contributor
Posts: 121
Registered: ‎01-11-2013
0

Re: FHA mortgage mess!! Please help!!

Judgements are public records, correct?  Even though its not showing on your CRA report the lender can still find it.  Does your mortgage application ask if you have had any judgements? 

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Established Member
Posts: 28
Registered: ‎10-03-2011
0

Re: FHA mortgage mess!! Please help!!

[ Edited ]

Do you still have a judgement againt you?

 

Just because it's gone from your credit report does not mean it's gone.

 

I know when I filled out the mortgage application I had to check off a box saying that I did not have any outstanding judgements.

Community Leader
Super Contributor
Posts: 5,335
Registered: ‎03-06-2010
0

Re: FHA mortgage mess!! Please help!!

As the others posted, the judgment is public record and the lender can find it easily even if it isn't on your credit report.

The mortgage application does ask if you have outstanding judgments so you would have to declare it anyway or it is mortgage fraud.

 

The best thing to do now is pay the judgment and get a satisfaction recorded in the public records. You aren't going to be able to close on an FHA loan with an outstanding judgment. You might even be able to have the judgment officially vacated once it is satisfied, some of the jurisdictions will allow that.

New Member
Posts: 4
Registered: ‎01-20-2013
0

Re: FHA mortgage mess!! Please help!!

Actually let me rephrase, I do not have a judgement. I confirmed via the courthouse and there is no judgement against me. There was someone else with my name that had a judgement, so as a result I had experian call and confirm the courthouse I have no judgement.

M worrie is they will call the creditor and the creditor will say I owe this money because of my name. If I go to another lender it will be smooth sailing because no judgement on my credit report nor in public records.

What happens if I start with a new lender, then 2 days later I get the clear to close from the original lender.. Then what happens?
Valued Contributor
Posts: 1,146
Registered: ‎11-30-2012
0

Re: FHA mortgage mess!! Please help!!

That seems like a huge mess and way too much trouble than it would be worth compared to the current lender calling the creditor and checking. Something doesn't add up, they wouldnt look by just name, they would ask for an address or SSN or something else to confirm if it's you or someone else with the same name. Are you SURE the judgment is not against you? Seems it would be a lot more worthwhile to just get that cleared up than going through the whole hassle of applying with someone else.

Community Leader
Super Contributor
Posts: 5,335
Registered: ‎03-06-2010
0

Re: FHA mortgage mess!! Please help!!

Having a judgment that is not yours but appears to be yours is a common event, especially if you have a common name or relatives with the same name.

Both the lender and the attorney or title company handle this routinely by having you sign an affidavit that the judgment is not yours (called a "same name" affidavit).

 

If it isn't yours, then the prior poster is correct, it is easier to just fix it with your current lender. After all, even if you go to a new lender and it isn't on your report the public records will show a judgment in your name and the new lender and new title company will pick it up. So you will have to clarify with the new lender and new title company that the judgment isn't yours.

 

It isn't the fact that it started on your credit report. The public records are checked anyway so it pops up whether its on your cr report or not.

Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

Re: FHA mortgage mess!! Please help!!

Sounds like you need to get a new lender. If they pulled you in Jan, they need to repull you anyways.

 

Find someone new.

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