Wednesday, May 26, 2010

580 CREDIT SCORE SOME COLLECTIONS JUDGEMENTS are 4 yrs plus told app will go to underwriting not man

I had my phone interview today. Agent said they would try to push my application through va. In addition was told that I had a slim chance of getting the house. Have some collections, judgements all over 4plus yrs. Can I get the house or not?



580 CREDIT SCORE SOME COLLECTIONS JUDGEMENTS are 4 yrs plus told app will go to underwriting not manual help?

that is strictly up to the lender--but please be careful of subprime lenders. they can set you up to fail and then you will lose the house anyway. Why not try to clean up your credit report? You can go to www.annualcreditreport.com and you can get a copy of y our credit report once a year from all 3 credit bureaus. You can also dispute anything you dont agree with, If you have collection accounts, work to pay them off. If you have to pay them a little at a time, then so be it



I also want to let you know about a website called www.ameridream.org. They can help with down payment on your home.



580 CREDIT SCORE SOME COLLECTIONS JUDGEMENTS are 4 yrs plus told app will go to underwriting not manual help?

Franklin(vegasman), were you looking for an answer or were you looking to relate?



Keep us updated and let us know if you get the house.



Good luck.



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580 CREDIT SCORE SOME COLLECTIONS JUDGEMENTS are 4 yrs plus told app will go to underwriting not manual help?

I hate to be the one to break it to you, but, unless you are putting a nice chunk down, you probably will not get it. Now, I say this even though I don%26#039;t know the full details of your situation, but, it sounds like to me that if it goes to manual underwriting, then once the underwriter sees your history, he will probably kick it back. Meaning, either he will say no, or he will give you a list of conditions to be met. But, again, I don%26#039;t know the full dynamics of your predicament. I wish you the best of luck!



580 CREDIT SCORE SOME COLLECTIONS JUDGEMENTS are 4 yrs plus told app will go to underwriting not manual help?

You probably can get a mortgage, but you will have to pay off the items that went to collections if you have not already. You might also try to find alternative sources of credit to submit along with your credit report to send into the underwriter. Just try to think about anything that might not be on your credit report, but show that you do pay back debts. Anything, really. I had a client once and we used their diaper service (among other things) to show that they did pay their bills. Just ask places to write you a letter. Also, a good down payment and debt to income ratio will help. Make sure that you have a mortgage consultant who is willing to go the extra mile for you!

1 comment:

  1. I recently had two judgements deleted from my credit file because Experian could not validate them. It is possible through the dispute process and certainly well worth it. This is not a process that normally happens overnight, but with some patience and persistence it certainly can help with a brighter credit future. Here is some info I found useful: http://www.mycreditlocker.com/blog/18-Judgements

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