babynurse31 Posted February 9, 2005 Report Share Posted February 9, 2005 I have a judgment against me for a medical bill. I know I need to pay it before I can get a mortgage. Once it is paid (satisfied) is there anything else I have to do with it in order to get approved? Link to comment Share on other sites More sharing options...
amortgageman Posted February 10, 2005 Report Share Posted February 10, 2005 Just be sure to get a receipt of the judgment being paid. You may want to follow up with the court where the judgment was issued, and get the documentation of the release there as well.I can almost always guarantee, in Indianapolis, that for some reason or another, the release of judgments never gets properly recorded on credit reports. They get them on there fine, but never seem to get the releases updated. Uhmmmmm, I hope you question just pertains to the judgment. If not feel free to get more specific as to what you are wanting to know. Link to comment Share on other sites More sharing options...
babynurse31 Posted February 10, 2005 Author Report Share Posted February 10, 2005 So I should be ok if I ask the lawyer (in writting, of course) to mail me the amount required to satisfy and release the judgment. Then keep record of the payment made I should be ok. If for some reason they do not release the judgment with the courts can I then take the written documentation of payment to the court and have it released myself? Sorry for the rambling Thanks for the help! Link to comment Share on other sites More sharing options...
Recovering Attorney Posted February 10, 2005 Report Share Posted February 10, 2005 More importantly, no lender will close a mortgage with you if the judgement is still unpaid, as it is a lien aganst the property and would precede the mortgage. A no-no for lenders.Be prepared. Judgments earn interest at a statutory rate, so if this has been out thre for a while, the amount to pay off will be higher than teh judgement. Link to comment Share on other sites More sharing options...
edubb007 Posted February 10, 2005 Report Share Posted February 10, 2005 How much is the judgement for?Who do you owe the Judgement too?(Creditor, Landlord, etc...)Where do you live?Have you tried to negotiaite a lower amount to settle?Try working at this judgement for a few days and see if you can't get it settled and removed. They have the power to vacate! i have had this done in PA and actually during the Mortgage process. I had to prove it was going to be sttled at closing from funds I received during Re-Fi this year! Now it's all bye bye! Link to comment Share on other sites More sharing options...
firstsource Posted February 10, 2005 Report Share Posted February 10, 2005 And just to be really safe, take the copy of the court release of the judgment, and send it to the bureaus to make sure that it is properly noted on your credit report.CHarles Link to comment Share on other sites More sharing options...
babynurse31 Posted February 11, 2005 Author Report Share Posted February 11, 2005 The judgment was for a medical bill for $545 + $44 fees + interest. I live in MO. I have not tried to settle for less-can you do that with a judgment? I don't want it coming back to bite me in a few months when I try to get a mortgage. Should I attempt to have them vacate the judgment or show it satisfied? Thanks for all your help! My head is spinning with all this info Link to comment Share on other sites More sharing options...
firstsource Posted February 11, 2005 Report Share Posted February 11, 2005 If you could get them to vacate the judgment, your report would look much better. Link to comment Share on other sites More sharing options...
kissinger99 Posted February 12, 2005 Report Share Posted February 12, 2005 The only chance you would have for getting i vacated would be if it was a recent judgment. I am in the same boat you are in with the judgments and can offer some advice.First try to negotiate a lower settlement. I settled one for half of the judgment amount and another for about 60%.Second, don't go to the court house to pay it! I paid one off this way and it took about two months to get the judgment released! I called the creditor to find out wtf was going on and they told me they could have released it immediately if I had gone through them.Last, as with everything else having to do with your credit, make sure you get receipts for everything and get any settlements in writing! Good luck! Link to comment Share on other sites More sharing options...
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