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Just a question. I'm planning to try to get a house in about 6 months to a year, and am wondering how picky lenders are when it comes to medical collections on your credit reports. I have 2 that show up on my Equifax, 1 showing up on Experian, and none on my Transunion (not sure why the variation). Both DOFD are from March 2011, and one is for $150 and one for $400. I tried PFD but haven't received any response yet.
Thanks in advance for the advice.
Worst case they will ask you to pay them off. Probably wont even be asked about them.
@heathuhhhhwebbbb wrote:Just a question. I'm planning to try to get a house in about 6 months to a year, and am wondering how picky lenders are when it comes to medical collections on your credit reports. I have 2 that show up on my Equifax, 1 showing up on Experian, and none on my Transunion (not sure why the variation). Both DOFD are from March 2011, and one is for $150 and one for $400. I tried PFD but haven't received any response yet.
Thanks in advance for the advice.
Collections can put your loan at risk if the amount is very large... In some / most states, the creditor can take you to court and get a judgement for these amounts, which can lead to a garnishment of your wages. A lender will protect himself by making sure that you are not at risk of having a judgment filed since the judgment can be made and can result in a lien on the home or a garnishment of your paychecks. If your checks are getting garnished, or your bank account gets a lien, then that would hinder your ability to pay the mortgage... So basically the lender is just trying to cover the bases and make sure that there isn't a lot of risk floating out there.