When it comes to getting a mortgage the difference between a credit collection account and a judgment is significant.
The biggest difference is that a collection account doesn’t have to be paid off as a condition of mortgage approval.
…However, a court ordered judgment MUST be paid off before a mortgage can be approved.
The reason is that the mortgage company sees the judgment as a significant risk to their lien position from a title perspective.
That’s it for today!
If you would like to see if you qualify for a mortgage right now – click here and fill out this simple and quick application.
Have a good day today! …and thanks for reading.
Brett
Do you need cash out of your home, but you don’t want to refinance the…
I wanted to address the two most common questions that I get regarding reverse mortgages……
Do you need cash out of your home, but you don’t want to refinance the…
Would you like to get cash out of your home, but you don't want to…
If you need cash out of your house, but don't want to touch your first…
I wanted to address the two most common questions that I get regarding reverse mortgages……