Does anybody believe we have a shot for mortgage? mine Eq600/Ex585/Tu527--hus Eq550/Ex600/Tu500 M-4 active tradelines/6open collections/1paidcharge --3 paid collections showing on 3CRA's H- 3 active tradelines/1unpaid chargeoff/2collections any advice would be appreciative tks Sleepless in NC
I don't think that you will have a problem. FHA isn't score driven. It's easier to get a home than a CC. I was told as long as you have a 500 middle # you can get a home loan. You may have to pay a premium interest rate, but you can get a loan. Charlie
I have heard that you have to have all collections and charge offs paid off before you can be approved for a FHA Home Loan. Or atleast have an agreement with the CA/OC to repay and have been paying on the collection or charge off for atleast 3-6 months.
Charlie, I've heard that if you have an old charge off but your recent credit is good and it's a strong loan you can still finance/refinance. Was that your friend's case?
