Home Buying in 19152>Question Details

Maria, Home Buyer in Philadelphia, PA

I have a judgment that will come off my credit in 11/10 (It's listed only on 1 report). The lowest credit score I have is 761.

Asked by Maria, Philadelphia, PA Sat Jun 12, 2010

I have a downpayment of 20% and the settlement amount. When should I start looking for a property?

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Answers

4
You should talk to a lender. With your credit score you should qualify for a mortgage but try to resolve the credit issue first as others have suggested.
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0 votes Thank Flag Link Sun Jun 13, 2010
Actually, judgments can be renewed, and your credit score doesn't matter with that unpaid judgment on your credit report (as Robin mentioned earlier). Keep in mind that every time you submit a credit (or loan) application, your judgment creditor could learn more about any assets you have, and could opt to seize them.

So it makes sense to resolve that judgment first. Besides, you might be able to settle with them.

Please feel free to contact me for more details.
0 votes Thank Flag Link Sat Jun 12, 2010
Visit with any qualified loan officer(s) first--see if you qualify and for how much, have your credit score checked again as their scoring is often different--if the judgement was paid off you should be fine--however, your loan officer can best advise.
0 votes Thank Flag Link Sat Jun 12, 2010
Is this a paid judgements? If so, with a 761 credit score, it shouldn't matter.
0 votes Thank Flag Link Sat Jun 12, 2010
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