Every Monday Morning at 8:15am, join me on my Facebook page as I sit down with a local lender, and do a live interview and talk about a Mortgage Tip that may help YOU with your next Real Estate Purchase. 

This morning I sat down with Mark Waterman from Great Western Bank.  What happens if title work finds a judgment on you? Listen to what Mark has to say about that.  You can reach him at 605.627.0602 or Mark.Waterman@GreatWesternBank.com  His office is located at 1302 6th St., Brookings SD 57006 or on the web at www.GreatWesternBank.com.

 HOW DO A FIX A JUDGMENT/COLLECTION IF TITLE WORK FINDS ONE ON ME?

- Hey, good morning everybody. Shane here from the Brookings Home Team, powered by Century 21. Monday morning, 8:15. You've seen this guy before, Mark Waterman from Great Western Bank. This morning he's gonna talk a little bit about a mortgage tip. So, have at it Mark.

- Thanks, Shane. The Monday Morning Mortgage Tip I wanted to cover is in regards to, it's come up actually a couple of times for me very recently. Judgements and collections and how they can affect you during a home buying process. Whether it's a collection or a judgment, typically they have to be taken care of before that home buying process is done. In the case, if you do have an existing judgment, that has to be taken care of when you sell your property. Judgements, I think there was actually a new ruling that they don't necessarily have to be on your credit report. I've found that there's been a couple that have come up through the title work to where there was one on the credit report, we got it taken care of. You do have to have a satisfaction letter. It can be a challenge to get because you have to get the satisfaction from the creditor. At that point, even if you have satisfied it they tend to drag their feet a little bit. They've already gotten paid, they're not super responsive through that process. That can hold up either the closing. I guess in that case where a couple pop up during the title work, additional dollars could be needed to bring to the table, as well, out of pocket. If we're counting on selling your home and using those dollars as part of the contingency, then all the sudden we're short dollars. So, it can certainly be an issue and I would advise you if you do have a collection or a judgment, start getting them taken care of ahead of time because it's generally only going to hurt you down the road and like I said, potentially delay your closing, as well. If you got questions, you know certainly I'm not a complete expert on the topic but I can point you in the right direction. I can help you maybe understand a little bit as to what they are, what documents you need to actually get filled out and how to get those from those creditors.

- Oh, looky there. Got a little technical.

- That was that.

- Technical.

- Perfect ending spot.

- There we go.

- Well, there went that selfie stick there. But anyway, thanks Mark for all that information. As he said, if you have any questions for him please reach out to him. I'll have his information on the top, on the bottom, on the sides. Wherever your device allows you to see it. Feel free to talk with him here at any time. If you have a question or need an answer on something for any of us here, feel free to reach out to us, as well. We'd be happy to talk to you. Alright, well yep. A little bit of technical difficulty here, and that happens when you go live.

- Yeah, yeah, absolutely.

- You just gotta work with it. We're getting close, almost 52 episodes guys, this is awesome. July, first of July was one year. Of course, we didn't hit all the Mondays there but 52 weeks almost worth of Monday Morning Mortgage Tips. So, thanks everybody for watching, appreciate it. We'll be back next week for our next Monday Morning Mortgage Tip. Have a great week, guys.

- You bet.

- See you later.

Thinking of selling and/or moving to Brookings, Volga, or any surrounding areas? Got questions? I’m here to help! Visit BrookingsHomeTeam.com for more details!