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.
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