My wife and I are in the process of applying for a USDA guaranteed home loan. She has a defaulted student loan. I have fed back taxes owed (from 09 and '10) but no liens/levies filed and it's not on any of my credit reports. I'm not on a payment plan.
We're considering paying off the student loan in full. Will that remove any flag on her in CAIVRS? How long would that take if we paid it off immediately?
Will my back taxes, which are not subject to a lien and are not reported on my credit reports, still show up in CAIVRS? Do they look at tax debt outside of CAIVRS? Getting mixed answers online and trying to call them for info has been useless.
I've disclosed all of this to my lender. Theyre satisfied with our credit and income otherwise and will go forward as long as the USDA approves.
Any advice appreciated.
