Mortgage Loans

[JasonL]

I have an old judgment from 2002 that has not been paid. I plan on getting a mortgage at the start of 2013.

This judgment has fallen off all of my credit reports and my scores have increased because of that.

I am in the process of paying the judgment in full. 

My question is..  Now that there will be NEW ACTIVITY on this judgment will it re-appear on my credit reports thus hurting my scores.

Thanks

[Booner72]

You can work with whoever has the judgment against you and tell them that part of the deal of you paying is that they NOT report it. Get that in writing if you can.

[Student_Loans_Kill]

Why would paying start new activity and reporting? 7 years is 7 years. If you were in New York it's 5 for paid judgement. Also based on how public records are "reported"  to the CRA's  how would this even show up, if it's not a TL?

[JasonL]

I don't know why it would show up. It was showing up for about 8 years, and then last year it dropped off.

I am getting ready to buy a house next year so I have made plans to pay if off. But I am worried that it will show back up as paid.

It's a private party, so they are not reporting it all. It was showing up as a public record.

thanks

[Student_Loans_Kill]

It won't report. CRA's illegally pay for someone to pull all records, then it's posted on your CR. when it's paid , it's paid, nothing to look up

[StartingOver10]

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JasonL wrote:

I don't know why it would show up. It was showing up for about 8 years, and then last year it dropped off.

I am getting ready to buy a house next year so I have made plans to pay if off. But I am worried that it will show back up as paid.

It's a private party, so they are not reporting it all. It was showing up as a public record.

thanks

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It is still in your public records. Just not on your CR. Once its paid they can't report it again on your CR. But the issue is not the CR, its the judgment itself. It has an independent public record.

Go to your county clerk's office website and look up your public records (under your name). It will show there. If (when) the debt is paid, a Satisfaction of Judgment will be recorded. The attorney/title company will check your public records and supply them to the lender before your loan is approved.