Judgement question please help!

[ccoaston]

OK..I tried to get a home loan a few months back. We found the house we liked and we were going theough the last few procces to get the loan in play. We already got the house inspected and then we paid $300 so they can run a tax lien check or something along those lines. Then low and behold the bank called me and said they cant give me the loan because of my 36k judgment i have with the goverment. They said that they would get firest dibs on the house if something happen and the feds said they would want first dibs. My question is...Is it pretty much impossiable for me to get a home for my 2 children and wife at this point until I pay the judgement off in full? Are there any programs? Are there diffrent way to where I can borrow 30k loan and pay cash for the rest? This judgment isnt from taxes it is from something that happen personally to where i owe the goverment money. They gave me a amount I have to pay a month and I never been late since 2008. There is no intrest on the amount, as I pay it goes down.

[Anonymous]

Scince this hasn't been answered I'm going to go out on a limb and say it's not likely that u will got a home loan or a personal loan for 30k with a judgement of that amount open on your report. I'm not an expert, just my opinion from research and experience. If you have a Payment plan set up and have been paying for at least a year try USDA or FHA for a mortgage. If you scores are good enough (say 640-660+) and u have at least a year payment history with the judgement and no other baddies it's a possability. I am about to close on a USDA direct loan and I have an unpaid judgement for $1400. They approved me on the condition that I paid it. My scores were 652 670 698. I also had two small collections (50 and 150) that had to be paid off. Look into USDA DIRECT if you qualify

[Anonymous]

No matter what this judgment will have to be taken care. You would either have to show 12 monthly payments on the judgment or pay it in full.

[GoodCredBen]

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@Anonymous wrote:

No matter what this judgment will have to be taken care. You would either have to show 12 monthly payments on the judgment or pay it in full.

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Agreed, but you are paying it and have been since 2008.....  without an issue as i read it.....

I would check around with some lenders. 

[ccoaston]

Thanks guys and please if anyone else has any experience or input on this please help. Like i mentioned in other forums. Ive been approved for a couple of cards and my credit score isnt bad.

American express blue : Just apped for it and approved about 4 hours ago. No limit yet

Citi Diamond perferred: 5k Approved yesterday

Discover: 5k Approved Today

Barclays: 3.8k

Chase Freedom: 2k

Capital 1 since 08: still 1k ( went through the whole CLI thing with them. I gave up.

[pengy_wi]

Not sure about the judgement part, but applying for 3 brand new cards in 2 days won't help the situation.

[Anonymous]

With USDA u need no new credit. Has to all be a year or older

[ccoaston]

No problem. I don't plan on looking and purchasing a home until next year.

[Anonymous]

If you have some time for rebuilding you should have a good shot with USDA.
Good luck

[ccoaston]

Thanks guys for all the clarity. Wouldn't be where I'm at without you.