WantItBetterCredit Posted January 10, 2008 Report Share Posted January 10, 2008 I am in the process of applying for a first time home buyers loan and of course, one of the stipulations is there must be 12 months between the time you apply for the loan and the time you satisifed a judgment. Do you think it is illegal or inappropriate for me to ask the plantiff to meet such requirements so that I can obtain the loan? My first payment was in 2005 and I have since been making payments regularly; the judgment will be paid off at the end of this month.WANTITBETTERCREDIT Link to comment Share on other sites More sharing options...
TheRoadBack Posted January 10, 2008 Report Share Posted January 10, 2008 I am in the process of applying for a first time home buyers loan and of course, one of the stipulations is there must be 12 months between the time you apply for the loan and the time you satisifed a judgment. Do you think it is illegal or inappropriate for me to ask the plantiff to meet such requirements so that I can obtain the loan? My first payment was in 2005 and I have since been making payments regularly; the judgment will be paid off at the end of this month.WANTITBETTERCREDITAre you talking about an FHA loan? Also what are your credit scores as you might have other options. Link to comment Share on other sites More sharing options...
firstsource Posted January 11, 2008 Report Share Posted January 11, 2008 You don't have to wait 12 months after a judgment is satisfied to get a home loan. You might want to as your credit scores will be yucky, but don't have to.Charles Link to comment Share on other sites More sharing options...
flacorps Posted January 11, 2008 Report Share Posted January 11, 2008 I am in the process of applying for a first time home buyers loan and of course, one of the stipulations is there must be 12 months between the time you apply for the loan and the time you satisifed a judgment. Do you think it is illegal or inappropriate for me to ask the plantiff to meet such requirements so that I can obtain the loan? My first payment was in 2005 and I have since been making payments regularly; the judgment will be paid off at the end of this month.WANTITBETTERCREDITWhile the judgment creditor could put any date they want on the satisfaction, the filing date with the court will probably be the one picked up and transmitted to the CRAs. But the recitation on the filed document might convince them ... or they may want to look deeper. Technically though, it's mortgage fraud to conceal a material fact. It's material to the lender's program that the satisfaction be more that 12 months ago. The backdating in the recitation on the satisfaction would be concealment of the fact that the payoff wasn't until this month. Link to comment Share on other sites More sharing options...
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