Posted on: 24th Mar, 2010 07:52 pm
My Husband owes back child support and the courts put a judgement on his credit report back in 2006. He has been paying on it. but will this stop us from getting a VA Loan?
Hi stull,
A judgment may affect your husband's chances of getting a home loan. If there is a judgment on your husband's credit report, then the lender will want him to pay off the judgment first and then apply for a loan. However, as your husband is paying off the judgment on time, he should once apply for a loan and check out if any lender agrees to it.
A judgment may affect your husband's chances of getting a home loan. If there is a judgment on your husband's credit report, then the lender will want him to pay off the judgment first and then apply for a loan. However, as your husband is paying off the judgment on time, he should once apply for a loan and check out if any lender agrees to it.
Hi Stull4,
Some lenders will actually allow a judgment to stay "open" as long as you can provide a repayment agreement and proof that you have made the payments on time for 6-12 months.
The bigger concern is what effect the judgment had on your husbands credit score. If his mid score is under a 620, you'll have a difficult time finding a lender willing to do a VA Loan
Some lenders will actually allow a judgment to stay "open" as long as you can provide a repayment agreement and proof that you have made the payments on time for 6-12 months.
The bigger concern is what effect the judgment had on your husbands credit score. If his mid score is under a 620, you'll have a difficult time finding a lender willing to do a VA Loan
yes he has been paying it on time.. but i guess he has no credit score .. Which is getting very differcult to find places to accept so he can build.
but ty everyone for your answers ... there may be light at the end of the tunnel
but ty everyone for your answers ... there may be light at the end of the tunnel