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Does being in the "chex system" affect your ability to qualify for a mortgage?

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ineedadvise
Regular Contributor

Does being in the "chex system" affect your ability to qualify for a mortgage?

I have a checking account, however I discovered an old bank account has me as "account misuse", with no other comments. The account was closed with money in it because it was repeatly overdrawn (I was going through a rough time, so I accept this...)  I don't owe them and didn't at the time they closed the account.  Will this affect my ability to get a mortgage??  I'm not sure what the banks look at.  My current account is with a "big bank" and has always been in good standing.  ANYONE know this one??
Message 1 of 3
2 REPLIES 2
ShanetheMortgageMan
Super Contributor

Re: Does being in the "chex system" affect your ability to qualify for a mortgage?

Nope, CHEX isn't checked... ho ho ho...
Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
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Message 2 of 3
ineedadvise
Regular Contributor

Re: Does being in the "chex system" affect your ability to qualify for a mortgage?

Phew!! Thanks so much for the quick response!!
Message 3 of 3
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