question about obtaining a mortgage - please help!

[Anonymous]

Hi there- I desperately need help.  My husband and I are looking to get a mortgage.  He has excellent credit and his fico is around 800.  My score is around 700 but I do have some negative marks from 4+ years ago that are still haunting me.  I have a judgment on my credit report from 2011 in the amount of 454 that was satisfied but is still reporting as open.  I just spoke to someone from experian who is disputing it and I know I can go to the bank to get a satisfaction of judgment document but will this delete this from my report or will it just change the status as satisfied?  Also, I have several late payments and one closed account which shows a past due amount of $3559.  I have paid this account in full and have the documents to show that.  Other than that, I have had perfect credit in the last 4 years.  We did apply for a pre-approval from a bank a few weeks ago and were declined.  What can I do to resolve these situations??? Thank you so much for any help/advice!

[Anonymous]

Write the companies that are paid and ask for a GW deletion since the accounts are paid in full.

Get a copy of the court file on the judgment - see what the final disposition was - see if anyone filed to vacate or expunge or dismiss it. You might need to file a Motion to Vacate showing the satisfaction, or see if you can get the other attorney too - If you can get it vacated - you can get it deleted - it will be like it never happened.   At least the satisfaction shows it is paid - that is good.

Also write the late payments - try to get GW deletions of the lates.....

GWs are a long shot - but if you can get them to work it sure helps.!

[Anonymous]

Thank you- if I dispute the claim will that help?? 

[Anonymous]

I sent you a PM - check there too.......

If you have a valid dispute (incorrect reporting, violation of FCPRA, incorrect dates, etc.)  of course you should.   If it is reporting correctly and is valid - then you really don't have a way to dispute it.  

Judgments and tax liens are the most difficult to get off - they can stay on for I think 10 years - even when paid in full (they should be reported as PAID though).   So usually you have to get them vacated, dismissed, expunged, something to make them go away.   Different states word it different.

[Anonymous]

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@Anonymous wrote:

Hi there- I desperately need help.  My husband and I are looking to get a mortgage.  He has excellent credit and his fico is around 800.  My score is around 700 but I do have some negative marks from 4+ years ago that are still haunting me.  I have a judgment on my credit report from 2011 in the amount of 454 that was satisfied but is still reporting as open.  I just spoke to someone from experian who is disputing it and I know I can go to the bank to get a satisfaction of judgment document but will this delete this from my report or will it just change the status as satisfied?  Also, I have several late payments and one closed account which shows a past due amount of $3559.  I have paid this account in full and have the documents to show that.  Other than that, I have had perfect credit in the last 4 years.  We did apply for a pre-approval from a bank a few weeks ago and were declined.  What can I do to resolve these situations??? Thank you so much for any help/advice!

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First, Welcome to the myFico forums!

The court that ordered the judgement is the only one that can vacate it.  Some states allow the creditor to petition to vacate after it is paid.  I would suggest checking the state website and look for information on judgements.  Or you could try googling removal of paid judgement in your state.

I agree, your best chance to get the lates removed is with a GW letter campaign.

For the account that shows open and 3559 and you have docs showing payment, I would dispute directly with the creditor to get it updated to zero and closed.  After it is at zero and closed, you can consider a GW letter campaign to get it deleted completely.

After that, if you have at least 3 CCs, I would suggest having all of them report at zero and just one CC show less than 10% to get the best chance of a score bump.

Then just keep up the good payment history and look for CLIs when available.

GL

[fishbjc]

If one bank says no, another may say yes. 

[Anonymous]

Did you ask the loan officer about the reasons for denial? They are usually pretty good about telling you exactly where the problems are, especially when it's something pertaining to your CR.

[Anonymous]

Hi there- so I called experian yesterday and disputed the judgment since it was still showing as open and has been satisfied.  This morning it was gone from my credit report??? It is still showing on transunion but I also called and disputed.  Is this normal? Should I expect to see it re-appear?

[Anonymous]

Hi- I had a judgment on my credit report from 5 years ago.  It has been satisfied (years ago) but still remains.  I called experian yesterday and disputed it.  This morning I checked and it had disappeared and my credit jumped up 13 points?? Is this normal? Can I expect it to re-appear??

[Anonymous]

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@Anonymous wrote:

Hi- I had a judgment on my credit report from 5 years ago.  It has been satisfied (years ago) but still remains.  I called experian yesterday and disputed it.  This morning I checked and it had disappeared and my credit jumped up 13 points?? Is this normal? Can I expect it to re-appear??

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Same thing happend to me with TU. I disputed it based on incorrect file date. I never even got anything confirming it, but it  just disapeared and my score shot up. So are you saying it got removed two years before it was supposed to? Judgements are based on the date it was filed in court. Is it on your other two reports? Btw. mine has been gone for a month or so, but I can't say if it can or will come back.