No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I'm planning to apply for a mortgage pre-approval in Feb/Mar 2021. In my extensive research (lol) in this community, I've seen a few older posts saying that Title companies run a social security search for old judgements and some of these posters say that they were denied mortgages for having old satisifed judgements.
I did research into myself and found 2 - 9/10 year-old judgements where my wages were garnished, but the judgements were not marked as satisfied. The wage garnishments stopped sevearal years ago, and I assumed (stupid I know) that these were taken care of. I don't want any surprises during the mortgage process, so I"m wondering:
1. ...if I should contact the credit union that holds these judgements to see what I can do to get them paid off before I begin applying for the pre-approval?
2. ....will satisfying these somehow "refresh" these and cause damage to my CRs?
3. Will I have to wait before applying since the judgements are just being satisfied?
@Anonymous wrote:I'm planning to apply for a mortgage pre-approval in Feb/Mar 2021. In my extensive research (lol) in this community, I've seen a few older posts saying that Title companies run a social security search for old judgements and some of these posters say that they were denied mortgages for having old satisifed judgements.
I did research into myself and found 2 - 9/10 year-old judgements where my wages were garnished, but the judgements were not marked as satisfied. The wage garnishments stopped sevearal years ago, and I assumed (stupid I know) that these were taken care of. I don't want any surprises during the mortgage process, so I"m wondering:
1. ...if I should contact the credit union that holds these judgements to see what I can do to get them paid off before I begin applying for the pre-approval?
2. ....will satisfying these somehow "refresh" these and cause damage to my CRs?
3. Will I have to wait before applying since the judgements are just being satisfied?
By law they have to info the court when its been satisfied so yes contact the CU to get them to do what they are legally required to do. They cannot be refreshed either. Do not app for a mortgage till you have papers that say they are satisfied.
Intersting. I'lll have to look into expired judgements as I didn't know they could expire. I'll be purchasing in the same state/county as my judgement is in..so I don't know if I should take the chance and see if it comes up during UW or try to just take care of it.
@Anonymous If it’s in the same county it will come up if it is not expired. you need to google your states civil statute of limitations and see how long judgements are good for and then go from the date it was filed. If it is expired it should not come up on the title search.
Apparently, judgements are good for 12 years in my state (from the date the judgement was entered). That said, mine won't expire until 2023 and I'll be purchasing in the county I live in. I'm nervous about how this will turn out, but I'll contact the CU and see what they say.
That's what I figured. I called the CU and after being hung up on 3x, they had to send me to the voicemail of "the person" who has to deal with it. Reminds me of the terrible customer service they have.