Friday, October 29, 2010

Speed Camera Tickets Can Hold Up Home Purchase

Some would have you believe that if you pay a speed camera ticket you are only out $40.  But in some cases they can have other impacts.  Here's a story in the College Park Path about a couple whose mortgage application for a new home was held up for a Montgomery County speed camera ticket... one which they had already paid. 

"We stayed at our lender's office filling out forms so late one night that the air conditioning turned off – in August. But we still received a phone call shortly thereafter notifying us that there was one small blemish on one of our credit reports that we would need to clear up before we signed our mortgage.

At first, I had trouble tracking down the overdue bill, because I mistook the name of the company for my student loan provider. Several phone calls later I found out that it was for a traffic camera ticket.

I had a guilty moment when I thought back to a day about a year before, when I was sure I had gotten a speed camera ticket, but thought I had successfully stuck my head in the sand because I had failed to change my mailing address and never received a ticket. 

I thought it would be an easy problem to fix, but the day before we were to go to settlement we were still trying to figure out how to resolve the ticket. We feared that after all the hurdles we had cleared, it would end up being a speeding ticket that would stand in the way of us getting our house. 

Finally, I found out it was actually a ticket my boyfriend had received in Montgomery County, and discovered it was a ticket he had already paid.

Fortunately they were eventually able to locate the receipt for the citation and convince their lender that they had paid.  "But you can imagine my chagrin the next morning, after our first night in the house, when I picked up the paper and read that speeding cameras would soon be coming to College Park too. "

College Park started using speed cameras on October 15th.  So UMD students beware, years from now that fully paid $40 ticket might come back to haunt you.