Medical Judgements can hurt my chances??????

[thross8512]

I have 2 medical judgements placed against me for the amount of $4,400 and $615.00 back from 2007 and 2009.  Both were sent to the insurance company and the balance they said was the insured responsibilities.  The one for $4,400 dropped off of my report in April 2014 but the other remains.  Will they both have to be paid before I can apply for a mortgage?  I would like to app in late 2014 but I don't want to if these things are going to hinder me.  The attorney office for the $4,400 indicated that I now owe 10k with intrest accrued buit if I pay that amount it will be half of my savings toward a home.  I offered to settled but I never heard back from them.  Please help!!!! Thanks in advance!

Current scores on my fico

Ex 612

EQ 634

Tran 655

[StartingOver10]

If they were just medical collections you would be fine.

Are you sure they are actual judgments?

If so, they need to be cleared (paid or vacated) prior to closing. You are in a better negotiating position if you negotiate this prior to applying for a mortgage. If the judgment holder suspects you want to buy a house, they are much LESS negotiable and will hold your feet to the fire. If they see a mortgage inq on your credit report - they become less negotiable. When you get this settled make sure you get a Satisfaction of Judgment recorded. 

To verify that you have an actual judgment pull a copy of the judgment from the public records. In my county it is at the Clerk of Courts website. Check your county's website to see where the public records are accessed.

[thross8512]

Thanks starting over...Even though the SOL for judgements in GA is 7 years(I believe) are you saying that the one that dropped off my report (4,000) will still show to a lender?  I did take a look at the public site and it was a default judgement.  The case is closed with the last record of nulla bona in October 2013.  

[StartingOver10]

I don't know GA law at all. Here is a link that ought to help you sort out the SOL for judgments. Looks like 7 yrs plus another 7 yrs on the renewal. But you have to research this for yourself and it is worth a phone call to a consumer attorney too to make sure you have the most up to date information.

http://www.expertlaw.com/forums/showthread.php?t=32549