Judgement on credit report

Judgements... Someone took you to court over a debt, and you lost... are trouble when getting a mortgage loan. Generally speaking, all judgements MUST be paid at, or prior to closing in order to get a new mortgage loan. www.WI-MortgageBroker.com

Of course there are many other factors and questions to be answered. However, based on the information that you have presented. I think you are ready to purchase, and it will be well deserved. Good Job!!!

You really have NOT received good advise on building your household credit. i'll make some assumptions which most likely correct. You read some things on the internet but haven't followed through with everything. You need to sit down with a mortgage professional that understands credit and demonstrates how to use credit wisely. Then you need to develope a plan and work the plan. While you can buy today. You will be required to have enough money to pay the judgements and have a down payment. You live in california so you are most likely able to use the first time home buyer programs for CALHFA. They are great programs. You may call me to discuss the programs . David SchwartzSr. Loan OfficerBanc Home Loans714-227-5087

As long as the judgments are paid off and satisfied, you and your husband should be able to purchase a home. Open Mortgage does in house lender down to a mid FICO score of 600 with competitive fixed rates available. Please contact me if you have more questions.

If the judgements are paid you are on the right track, if they are NOT paid they must be paid in order to obtain a "mainstream" mortgage. (You normally can't close on a mortgage with an outstanding judgement, and if not paid, they never go off your credit report.) Be careful about "personal loans" especially from finance companies - they are not helpful to your credit. If you have the needed downpayment and the judgements are paid you should go ahead as soon as you are ready. Good luck!

As long as they are paid you won't have to worry about them. If you do have a good pay history for two years and are at a 620 you are a good candidate for an FHA loan and maybe even a conventional loan. It will all depend on your complete credit and work history. Speak with a local lender and they will give you all of your available options so you will know what direction is best for your needs.