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    mendez1's Avatar
    mendez1 Posts: 2, Reputation: 1
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    #1

    Mar 1, 2009, 11:39 AM
    Judgement In another state?
    Im Currenty trying to buy a home in fl. But my Lender stated to me that there is a judgement on my credit from IL. Can this stop me from getting an approval from the title company? The Lender said they would do a search to see if the cook county judgement will have the authority to follow in the state of Florida. He said it might not, due to the fact its not federal it is in cook county of IL, Could this be true & also I am a disabled Veteran, do you think the VA will turn it down too? Because of the Judgement.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Mar 1, 2009, 11:45 AM

    Judgments are transferred from State to State all the time, not the least bit unusual. I have no idea what the standards are for mortgages at the present time but I would think any unpaid Judgment would disqualify you.

    This was answered yesterday - please keep to one thread with the same, consistent information.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Mar 1, 2009, 01:56 PM

    Yes have no idea what they are talking about, judgements are easily moved and collected on from each state. If you have unpaid debts and a judgement this will effect your credit report and credit score and it is very possible that they will not give you credit with this effeecting your credit.

    As for as the title company they merely do the paper work, I can not see where it effects the work they do, they merely do the paper work to trasnfer ownership after there is a approved loan, and/or a real estate contract
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #4

    Mar 1, 2009, 02:00 PM
    Quote Originally Posted by mendez1 View Post
    Can this stop me from getting an approval from the title company?
    No, the title company would only be concerned about a judgement that impeded the transfer of the title.

    However, the lender would be concerned about an outstanding judgement and could kill the loan because of it. If they don't kill the loan and you do purchase the property, then the judgement holder MIGHT be able to use it to place a lien on the property.

    P.S. Please review the site rules about being civil. If you need to add information to an original question, please use the Answer This Question options rather than starting a new thread.
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