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larrywww

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Starting July 1st, the 3 major credit bureaus will start omitting this information.

I don't quite understand why they are omittng this information, but the impact is supposed to (artificially) inflate the credit scores who have such issues.

Given that they stay on the report for 10 years, I can certainly see why this would have a serious impact.

According to the article, there was a serious problem with accuracy of this information.  In the old days, they used to put SSNs and other identifying information on the judgement(s), but in t his age of identity theft,  they can't do that anymore.  (You can put the last 4 digits, however).

It's NOT because the information is irrelevant, as the article notes;

Tim Coyle, senior director of real estate and mortgage for LexisNexis Risk Solutions, a large data and technology company that sells creditors data on public records including judgments and tax liens, told me in an interview that an internal study by his firm found that borrowers who have a judgment or a tax lien are 5½ times as likely to end up in serious default or foreclosure as are borrowers who don’t have such items in their files.

The overall impact is that it's going to make it more difficult for landlords to figure out which judgements /tax liens relate to which borrower(s).  (This isn't easy, in case you have ever tried to do this).




https://www.washingtonpost.com/realestate/many-mortgage-applicants-will-get-a-surprise-boost-in-their-credit-scores/2017/03/07/b1018620-0347-11e7-b9fa-ed727b644a0b_story.html?tid=pm_realestate_pop&utm_term=.eca579ba3d8c

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