Hi all, My husband and I will probably start looking at houses maybe a year or so from today. We need to build up our savings a bit more and clear up whatever credit issues we can. I've read that FHA lenders, for the most part, only require that: All derogs be at least 2 years old (incl BK) Is this true? Hubby, with the exception of 1 account, hasn't had a late pay in about 3 years. I, once my student loans are updated when I finish my rehab program later this year, haven't either. So, there shouldn't be ANY recent negatives if we hope to be approved for one of these? What about unpaid collections or chargeoffs? Have they required that you pay these or if they over the 2 years did they not figure then into the equation? This is probably the biggest question- should I pay these CAs now because a lender will require me to do so sometime down the line? If you don't mind sharing, how did you go through the program? Which banks are pretty good lenders, what did your scores look like, did you have the 3% down payment or did you have it "gifted" to you through Nehemiah or Ameridream or someplace similar. Sorry this is so long.. I'm trying to figure out what stance I need to take with my credit rebuilding/repair plan.
