topic Re: judgment & mortgage?? in Mortgage Loans

judgement & mortgage??

Anonymous — Fri, 05 Sep 2008 01:46:27 GMT

DH and I had a judgement placed against us in 1999. In 2005 we sold our property and our attorney handled all the paperwork to settle this judgement for less than we owed. We have the paperwork agreement and copy of the check. It is no longer on our credit reports. The company did not send this paperwork to the clerk of court and when I check the records it looks like it has never been updated.

When we apply for a mortgage will this come up since it is not reported on our credit reports any longer? We own the peice of property we will be building on free and clear.

Any suggestions?

Thanks!!!

Re: judgement & mortgage??

BrianB_The_Loan_Professor — Fri, 05 Sep 2008 03:46:07 GMT

It probably will not come up but to be safe be prepared to document it has been settled if it does.

Brian

Re: judgement & mortgage??

DallasLoanGuy — Sat, 06 Sep 2008 12:41:07 GMT

contact the company an get the judgement updated.

title company miht find it.....

Re: judgement & mortgage??

Anonymous — Sat, 06 Sep 2008 22:53:34 GMT

Who is it that should send the update? Can I do it? Our attorney contacted the company several times but they have not responded. If I have the agreement and copy of the check will that do it? Thanks!

Re: judgment & mortgage??

Anonymous — Sun, 07 Sep 2008 14:53:44 GMT

Judgment only stay on for 7 years except:

unpaid tax liens (can stay on forever)

paid tax liens (7 years from paid)

If judgment was filed in 1999- if should already be gone.

Re: judgment & mortgage??

DallasLoanGuy — Mon, 08 Sep 2008 02:41:05 GMT

Timothy wrote:
Judgment only stay on for 7 years except:
unpaid tax liens (can stay on forever)
paid tax liens (7 years from paid)

If judgment was filed in 1999- if should already be gone.

if you are saying that they come off in 7 years, then it is news to me. they should be forever.

title company can find these.... even if not on the silly credit reports.

Re: judgment & mortgage??

Anonymous — Mon, 08 Sep 2008 03:10:45 GMT

it was settled/paid.

Either way it should be off the credit report.

DallasLoanGuy wrote:

Timothy wrote:

Judgment only stay on for 7 years except:

unpaid tax liens (can stay on forever)

paid tax liens (7 years from paid)

If judgment was filed in 1999- if should already be gone.

if you are saying that they come off in 7 years, then it is news to me. they should be forever.

title company can find these.... even if not on the silly credit reports.

Re: judgment & mortgage??

DallasLoanGuy — Mon, 08 Sep 2008 03:26:49 GMT

ok. sorry. i meant to say, if unpaid/settled it will be there forever. unless the courts KNOW that it is settled, then it will remain forever.

the key is.... what do the courts know? <= prove it to them. and then have the bureaus update.

Re: judgment & mortgage??

Anonymous — Mon, 08 Sep 2008 11:16:19 GMT

It is no longer on any of my credit reports. I believe I have passed the 7 year mark. However when I pull up the clerk of court website I see where a final judgement was given but I don't see any paperwork showing it paid.

Can I send the copy of the check and agreement to the clerk? Or is it the company who has to do it??

Thanks !!

Re: judgment & mortgage??

Anonymous — Tue, 09 Sep 2008 19:42:47 GMT

bump

Re: judgment & mortgage??

Anonymous — Thu, 11 Sep 2008 16:49:17 GMT

Re: judgment & mortgage??

soapdish — Fri, 12 Sep 2008 04:50:32 GMT

you probably need to file the satisfaction of judgment form with the clerk of courts.

When your title company or lawyer sent the payment to the company, they should have received back the signed satisfaction, and recorded it.

This stuff gets misplaced all the time, or just never gets sent. You need to back track with the title company, the attorney, and the company if need be. be prepared to provide copies of the closing statement where it shows it was paid, the check, etc. Someone has your satisfaction just sitting in their file, probably.

It might cost a few dollars to file, but you can take it to the clerk of courts office yourself if need be.

HTH ~ L

Re: judgment & mortgage??

Anonymous — Fri, 12 Sep 2008 20:26:16 GMT

Thank you Soapdish!! I will get started on Monday.

Re: judgment & mortgage??

soapdish — Fri, 12 Sep 2008 21:54:42 GMT

you are welcome!

I meant to add that if no one seems to have your Satisfaction in their file, you can get a form maybe from Clerk of courts, or on-line, or an office supply store. Actually, I'd make that lawyer get you one.

You can fill in the pertinent info and have the creditor sign it and mail it back to you, include your own return envelope, wouldn't hurt to CMRRR it all to the creditor.

Don't trust them or anyone to say they will file it for you, and you might have already paid the filing fee ($10 in wisconsin), but if you take care of it yourself, you will know it has been DONE!

Then when the CRA people check the courthouse records, they will find that the judgment has been satisfied, and it should show as paid on your credit reports. if it doesn't that's another matter, that I'm not so well versed in.

When the title company does their search, they will see that it is satisfied also.

Re: judgment & mortgage??

soapdish — Fri, 12 Sep 2008 22:55:31 GMT

the first place to start is to call / contact the clerk of courts office and make sure that the satisfaction has not been filed before you go to all that other work. If it has, you are pretty much in the clear all the way around.