Can it be done?

[DaBears]

My wife works full time, her pay is very good. Been with the same employer for 8 yrs. Altho she has a forclosure from 4 yrs ago. Will that stop her from obtaining a loan? She is currently in DMP, altho just one creditor is reporting as such, the rest is showing as paying as agreed. I am currently on workers comp. I get paid every week and I should have a settlement soon, about $150K, $75K would be put down on a house. Both are scores (middle) are currently 675. I was about 735 but I maxed out my GE Care Credit for dental work. That card will be paid in full in 2 months. Do we have a shot if not I will wait till next yr. Thank you myFICO family. 

Community Leader, 

DaBears

[Shogun]

I'm not a mortgage expert, but judging by the situation you presented.  I think you stand a good chance.  Thank goodness,  I thought you would have to move in here.  LOL

[DaBears]

I will take that into consideration buddy. I love watching Yo Gabba Gabba on the weekends with my daughter. Your man cave would be great!!! 

[StartingOver10]

I assume that the creditor showing her in the DMP program is current, right?

There really shouldn't be any issue at all with your approval, especially with a large down payment as a percentage of the purchase price. We don't know what your ratios are because your purchase price and gross income wasn't posted, but since you are here all the time I assume you would keep your ratios in line

[DaBears]

Hi startingover, yes it's always on-time. My reports are clean except for my bk 7 showing in public records that will fall off in march 14'. 

[DaBears]

Just submitted info to the LO. I won't be on the loan cause they can't use my income from Worker's Comp ( Free money ) not taxable. I will however can be put on the title. Let's see what happens.

[StartingOver10]

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@DaBears wrote:

Hi startingover, yes it's always on-time. My reports are clean except for my bk 7 showing in public records that will fall off in march 14'. 

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^^^I just looked at what I wrote again...I wasn't referring to you and your wife paying ontime. I was referring to the DMP because some of them pay very late, even deliberately late, even when the consumer pays ontime everytime. Sounds like are in a good program since the DMP is actually paying like they are supposed to pay.

[DaBears]

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@StartingOver10 wrote:

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@DaBears wrote:

Hi startingover, yes it's always on-time. My reports are clean except for my bk 7 showing in public records that will fall off in march 14'. 

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^^^I just looked at what I wrote again...I wasn't referring to you and your wife paying ontime. I was referring to the DMP because some of them pay very late, even deliberately late, even when the consumer pays ontime everytime. Sounds like are in a good program since the DMP is actually paying like they are supposed to pay.

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Yea, she got a very good company. Luckily I don't have to be in a DMP lol. Only chase is reporting the TL as being in a DMP the rest just say closed paying as agreed. I told her she got lucky.

[DallasLoanGuy]

i don't see anything here that FHA would deny you for.....