How do Judgements affect a Kentucky Mortgage Loan Approval?

Judgments and how they affect a Kentucky Mortgage Loan Approval.

Judgements are treated differently than collections when it comes to a mortgage loan approval in Kentucky. 

  • All judgments must be paid off prior to the loan closing unless there is a written agreement for a payment plan.
  • In order to accept a payment plan for a judgment, the written agreement must be provided along with evidence that at least 3 payments have been made and that all payments have been made on time.
  • Any payment plan for a judgment must have its monthly payment include in the DTI calculation.
  • Judgments of a Non-Purchasing Spouse in a community property state must be included, unless excluded by state of Kentucky 

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Joel Lobb
Senior  Loan Officer

 phone: (502) 905-3708
 Fax:     (502) 327-9119

 Company ID #1364 | MB73346