Comments on: If you have judgements on your credit report can you still get a mortgage loan? http://www.credithomemortgageloan.com/renting-real-estate/if-you-have-judgements-on-your-credit-report-can-you-still-get-a-mortgage-loan/ A blog about home mortgage loan credit Mon, 06 Sep 2010 19:08:29 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Expert Realtor http://www.credithomemortgageloan.com/renting-real-estate/if-you-have-judgements-on-your-credit-report-can-you-still-get-a-mortgage-loan/comment-page-1/#comment-407 Expert Realtor Thu, 09 Oct 2008 23:21:24 +0000 http://www.credithomemortgageloan.com/renting-real-estate/if-you-have-judgements-on-your-credit-report-can-you-still-get-a-mortgage-loan/#comment-407 This is where all mortgage loans ARE created equal. Outstanding judgments that are NOT paid must be paid before they will loan to you. Period. The reason is that most judgements will turn into liens on property once you actually purchase property....not always, but most of the time, yes. Your lender is 100% correct. This is where all mortgage loans ARE created equal.

Outstanding judgments that are NOT paid must be paid before they will loan to you.

Period.

The reason is that most judgements will turn into liens on property once you actually purchase property….not always, but most of the time, yes.

Your lender is 100% correct.

]]> By: acermill http://www.credithomemortgageloan.com/renting-real-estate/if-you-have-judgements-on-your-credit-report-can-you-still-get-a-mortgage-loan/comment-page-1/#comment-406 acermill Wed, 08 Oct 2008 04:09:09 +0000 http://www.credithomemortgageloan.com/renting-real-estate/if-you-have-judgements-on-your-credit-report-can-you-still-get-a-mortgage-loan/#comment-406 Pretty much true. Generally speaking, you will be denied a mortgage loan if there are outstanding judgments remaining unpaid. The lender is correct. As soon as you take ownership of the property, these judgments can be converted to liens against the property. Lenders don't like such liens. Pretty much true. Generally speaking, you will be denied a mortgage loan if there are outstanding judgments remaining unpaid. The lender is correct. As soon as you take ownership of the property, these judgments can be converted to liens against the property. Lenders don’t like such liens.

]]> By: Real Estate Guy http://www.credithomemortgageloan.com/renting-real-estate/if-you-have-judgements-on-your-credit-report-can-you-still-get-a-mortgage-loan/comment-page-1/#comment-405 Real Estate Guy Wed, 08 Oct 2008 01:24:17 +0000 http://www.credithomemortgageloan.com/renting-real-estate/if-you-have-judgements-on-your-credit-report-can-you-still-get-a-mortgage-loan/#comment-405 They are correct. Pay off the judgments (or settle with the company) and then apply for a mortgage. They are correct. Pay off the judgments (or settle with the company) and then apply for a mortgage.

]]> By: HoustonTexan http://www.credithomemortgageloan.com/renting-real-estate/if-you-have-judgements-on-your-credit-report-can-you-still-get-a-mortgage-loan/comment-page-1/#comment-404 HoustonTexan Mon, 06 Oct 2008 10:43:16 +0000 http://www.credithomemortgageloan.com/renting-real-estate/if-you-have-judgements-on-your-credit-report-can-you-still-get-a-mortgage-loan/#comment-404 if you have those things on your credit it will be difficult to get a mortgage because the lending industry is losing millions on bad debt. So they have much less tolerance for potential loss. Basically they are less willing to make risky loans. And with three negatives on your credit, you would possibly be seen as a risky loan. If you did get a mortgage it would most certainly be at a higher interest rate. if you have those things on your credit it will be difficult to get a mortgage because the lending industry is losing millions on bad debt. So they have much less tolerance for potential loss. Basically they are less willing to make risky loans. And with three negatives on your credit, you would possibly be seen as a risky loan. If you did get a mortgage it would most certainly be at a higher interest rate.

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