Judgement and abilitly to get a mortgage

[thross8512]

I have a couple questions:  I have a medical collection that was initally $615 in 2009.  It remains unpaid and when I called the attorney's office the amount is now $1,100.00.  In the eyes of the court do I only need to pay the $615 to have satisfied or would I have to pay the full amount with continued intrest growing?  I also have 2 first Premier Cards that are due to age off in 08/14, one was paid and the other I disputed because I did not have 2 accounts with them.  My question is if they sell to a collection agency at this point will the SOL start over again?  Right now they both appear on my report from the FP.  I also went on an app spree in Nov/Dec 2013 and pick up like 6 new credit cards, so my inquries are alot over the past year, esp since I got an auto loan in 03/13, which I have not been late on nor any other recent credit.  Right now the UTI for all of my cards are 13% which include 2 from almost 2 years ago.  The real question is given all of this information would I be able to get a mortgage loan given the FP issue and judgement?  Is it possible to put 3.5% down?  I am new to the house hunting adventure so I am not versed in what I should do at all! Any advise would really be appreciated.

[StartingOver10]

You might be able to negotiate the judgment down from its present value, but if you indicate you want to buy a house the judgment lien holder won't negotiate at all in my experience.

It is up to the judgment holder to decide what s/he will accept. The original default value may or may not be acceptable to the judgment holder. Make sure that you get a Satisfaction of judgment recorded when you get this settled out.

As to the two charge off's - the SOL doesn't restart when it is sold to a collections agency. It goes from DOFD (date of final default).

To get a mortgage, you will have to pay off the judgment first before closing. It is far better to pay it off before you even apply. Don't worry about the other two charge off's. don't have a mortgage company run your credit before you pay off the judgment as it will hurt your chances to negotiate the judgment amount.

[thross8512]

Thanks!