student loans

Discussion in 'Credit Talk' started by Shelby, Apr 9, 2001.

  1. Shelby

    Shelby Well-Known Member

    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?
  2. ShotCredit

    ShotCredit Guest

    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??
  3. Shelby

    Shelby Well-Known Member

    We are considering a least purchase where the seller wants the house sold by Jan 2002 which 9 months away.
  4. CYA

    CYA Well-Known Member

    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.
  5. roni

    roni Well-Known Member

    You can get a fHA or VA mortgage with the loans in rehabilitation.


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