Hello -
Have a quick question I was hoping to get some insight on. We are applying for an FHA loan and have some pretty heinous credit issues from the past, and wondered what our chances are. Here is the breakdown:
Middle Scores:
Me 671
Husband 621
Husband has a discharged chapter 7 bankruptcy from 2005, and then in 2009 & 2010 had an amount of late payments due to the recession and working in the trades. Then in 2011 we both had some late payments (about 4) due to our son being in treatment for Leukemia, loss of work hours, personal time etc. (I would think we could at least explain these away)
For the last 6 months we haven't had a late payment, paid off 80% of our debt and brought our credit scores up to a respectable level to be able to qualify. Will these issues haunt us if we apply? Can we explain them away with some good LOX's?
Thanks for your thoughts!
