After reading the post here regarding exceptions to the 7/10 year rules listed in the FCRA, I have to wonder. Is it worth waiting until a BK/negative accounts fall off before applying for a mortgage? Per the FCRA, loans in excess of 150K are exempt from the rule regarding reporting of outdated information. So in effect, waiting until everything "falls off" my report is useless, if the lender can go back infinitely? If so, why is it worth waiting? If anyone has any personal experience with this, I would greatly appreciate your reply! Thanks!
