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FHA and judgements

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CreditHealthy
Established Contributor

FHA and judgements

Hello, my question to the forum is, if someone served you a summons 18 months ago, you answered it, and heard nothing from the plaintiff, until now asking you to settle.will it affect my ability to obtain an FHA loan if technically it's not a judgement? It's just siting there on the county website with no court date, no nothing. I want to apply now but don't know if the UW will see this or not. If the plaintiff does move on this, they can't win because I have proof it's out of the SOL. I am stuck on this one, Please help!

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EQUIFAX 727 EXPERIAN 732 TRANSUNION 743 FICO} STARTING SCORE....554 July 2013
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ShanetheMortgageMan
Super Contributor

Re: FHA and judgements

If you've been served that doesn't mean that you legally owe the debt - it just means someone is trying to go through the legal procedure to determine if you owe the debt or not.  If in good faith you know that the SOL has passed and it cannot possibly be owed, then I think you will be fine proceding and this debt being treated as not owing.  Now if it were to go before the judge and determined that it is a valid amount owed, then that would change things of course.

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
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CreditHealthy
Established Contributor

Re: FHA and judgements

OMG! Thanks Shane!!! I feel so much better nowSmiley Very Happy

What's in my sock drawer? NFCU LOC 15,000] NFCU Cash Rewards 20,000][ Golden 1Platinum Rewards Card 6,600 Discover It 5,000,] {NFCU goRewards 17,500} Barclaycard 1250.00,]Cap one 750.00 ], Watering my garden for the next five years:-)
EQUIFAX 727 EXPERIAN 732 TRANSUNION 743 FICO} STARTING SCORE....554 July 2013
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