I Have a Judgment Against Me. Can I Still Buy a Home? – Cindy

i have a judgement but want to buy a home .can i ?

i have a judgement against me but it doesnt show up on my credit report .can i still buy a home/

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5 thoughts on “I Have a Judgment Against Me. Can I Still Buy a Home? – Cindy”

  1. If you pay the judgement off and let the lender know “hey, this was an issue for me and since I have paid this off.”  It may be very difficult to continue with this and it pop up later.  Most forms to apply should ask if you have had one. you would lose a lot of you lied and answered “no”
    I would suggest letting the lender know for sure!

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  2. I would be honest on the paperwork,and I do think you are signing stating that you are being truthful so you would not want to have fraud involved. I agree with the earlier comment to get it handled first.  Unless your paying cash for it and do not need a loan or you could try a owner financed property, that may work for you also.  Good luck

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  3. Cindy,

    From what I have heard from lenders, you may still be approved, but lenders usually require that certain judgments will have to be paid prior to closing. To be on the safe side, I would be honest with the lenders when you shop around and explain the situation and see what they say and then they could advise you what would be best for your situation. It would be terrible if something happens and some how or another it pops up on your credit when you least expect it and you lose all the time and money to find out you can’t get the home your wanted. 

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  4. Cindy,

    You can try.  If your lender is not aware of the judgment you may get approved and get the home. Of course it may show up before closing and you may lose money already committed to appraisals, title searches and the like. Or you may successfully close and then have your wages garnished making it difficult or impossible to make your house payment. Or the judgment may result in a lien against your new home.

    I can’t think of many happy endings to a purchase process based on a hidden time bomb sitting on your credit record. You would probably be wise to clear up the judgment matter before buying the house.

    Good Luck!

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