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Going for a mortgage in August

The last post in this topic was posted 5252 days ago. 

 

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I have a judgment for $839.96 back from 2000 and it is still showing unpaid on my credit report. I have not paid it up until now, but I do know what it is for and who to contact to pay it off. What is my best approach to handling this that will help me when I go to the bank next month to try for a mortgage? Should I send them a letter asking to verify the payoff amount and agree to satisfy the judgement? Wouldn't it be best to pay it off before going to the loan officer? Please advise.

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Don't worry about it. Due to the age and amount of judgement, you should be fine. Even if it's required to be paid off, you can still get preapproved and just pay it prior to or at closing. More often than not, judgements do not need to be paid off as long as it does not affect title.

 

The loan officer's job is to figure out how to get you approved. They're not going to just give up because they see a derog.

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If I have the finances available, should I just go ahead and pay it to be safe? I would request a receipt and letter from the creditor that it is paid in full and I am no longer obligated.

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No, don't pay it. Because it is so old, it is not hurting your scores too much. Paying it will make it more current and it will end up making your scores lower. After you get the mortgage, then you can deal with it.

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