My husband and I have some defaulted student loans. I have read on this board that even if Junum is able to get them deleted that they will eventually be verified and show back up on your report. So I want to rehabilitate these loans but my question is if I rehabilitate these now and am trying to qualify for a mortgage in 9 months they will not be completely rehabilitated yetat that point.... It takes one year. Does anyone know how this will affect me in qualifying for a mortgage?
I think you will have to wait on the mortgage. Defaulted student loans can be a PAIN. I just got my lender to write me a letter saying it was THEIR error and that mine never defaulted, but Oklahoma is more lenient than some states. Why try and qualify for the mortgage in 9 mos (unless you're pregnant)? Why not just wait the year??
We are considering a least purchase where the seller wants the house sold by Jan 2002 which 9 months away.
Can you negotiate the purchase date? Find the sellers motive for selling, are they retiring, funding a college education, why do they need all of their money in Jan 2002? Everything is negotiable.... Good Luck.
