I am purchasing a condo and am supposed to close on 9/21/2007, but my mortgage broker contacted me yesterday to say that the title company has an issue because they say there are two judgements against me, which are literally not possible. How can I resolve this so that it does not interfere with me buying my home?
The judgements are by two credit card companies, Discover and Capital One, but the only line of credit I've ever had since 18 (I am now 24) is with Visa through Wells Fargo. I've never had any type of retail store charge card or any other form of credit so these judgements clearly are either false or are against someone else with the same name.
Neither one appeared anywhere on my credit reports. I don't understand how the title company can think these are against me if they aren't on my credit report because they're from credit card companies!
I wonder how typical this is and if it is cause for concern or if this is something my mortgage broker can clear up.
2007-09-12 01:18:51 · 8 answers · asked by skablaw 1 in Business & Finance ➔ Renting & Real Estate
Hi there. First, I must state that the correct spelling is actually "judgment." Sorry, the OCD part of me just had to get that out.
This is something that can be cleared up pretty easily. The title company is obligated to determine if the judgments really are against you. They do this by contacting the attorneys that filed the judgments on behalf of the credit card companies. They will verify if it is you by comparing your social security number to that of the debtor. If it is in fact not you, then the attorney will sign a "letter of distinguishment" (prepared by the title company) which will then be filed at the courthouse in the county where you are purchasing the property. It will then be public record that the two judgments are not against you. If it is determined that it is you, you would be required to pay off the judgments because they would automatically create a lien against the property which would "attach" ahead of the mortgage company's lien.
Hope this helps!
This does happen quite often, especially if you have a common name.
2007-09-12 01:59:49 · answer #1 · answered by Remember 9/11 1 · 3⤊ 0⤋
Many people have said you should check with the credit bureau to get it fixed, this obviously won't help you since you said in your question that it's not anywhere on your credit reports.
Most likely, what happened, is that you have a common name or you are a Jr/Sr. What happens is if someone with your same name gets into trouble, that person's creditors can put liens on everybody in the city with that name. Sounds crazy, but I've seen it happen many times.
The title company should be able to verify the social security number on the judgment, see it's not yours, and get it released. You will want to retain proof once they DO clear it up, since it is very possible it will come up again in the future.
2007-09-12 11:01:02 · answer #2 · answered by benebuck8 2 · 0⤊ 0⤋
As others have said, you need to clear this up with the credit bureau. But that won't happen by snapping your fingers. So, in order for your deal to go thru this time, here's what I suggest:
You mentioned you have your credit report and these 2 issues aren't on them. Give a copy of your credit report to your mortgage broker. He can then give this to those opposing the sale to you.
Good luck.... really sounds like someone stole your identity...
2007-09-12 01:26:47 · answer #3 · answered by The ReDesign Diva 7 · 0⤊ 0⤋
Judgements Against Me
2016-11-07 00:30:59 · answer #4 · answered by morelus 4 · 0⤊ 0⤋
Under the Fair Credit Reporting Act, the mortgage company must tell you where they got that information so that you have the opportunity to get it corrected. Since you have already checked your credit reports, it is imperative that you get this information.
I don't know your name, but mortgage companies sometimes check court records. If you have a common name, they could be finding someone else's records and attributing them to you. I have seen this happen before.
Call your broker to get this information immediately.
2007-09-12 01:44:10 · answer #5 · answered by butter1944fly 3 · 1⤊ 0⤋
You need to contact the credit bureau to resolve these problems. Call them and explain that you never had these cards - you may have been a victim of identity theft.
2007-09-12 01:22:30 · answer #6 · answered by elaeblue 7 · 0⤊ 0⤋
Have you looked at the actual judgements? How much are they for? Ask for all the details. I would deal directly with the people who have the judgements.
2007-09-12 01:27:47 · answer #7 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
the credit bearu
2007-09-12 01:26:41 · answer #8 · answered by Anonymous · 0⤊ 0⤋