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Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

Disputes need to be removed because they mask your score and the automated system can not tell the difference between an old dispute that has been resolved (but the comment remains) and a new active dispute.  

 

 

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Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

I was awarded judgment of $562 through courts and on counter claim the judge awarded same amount, when the judgments are entered will this affect my mortgage score not my FICO 8? This was small claims court in AZ and I don't think I can get this vacated because no appeals in SC court. I'm going for a mortgage in Dec and want no hiccups_this was just today!
" EX 671 EQ 670 TU 660 MMS 681"
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Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

 
Valued Contributor
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Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

 
New Member
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Registered: ‎01-30-2008
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Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

I have a $ 23,986 collection account. the account was awarded to my exwife during our divorce. The divorce stipulates several accounts are her sole responsibility and several were my sole responsibility. The account was in good standing when we divorced and stayed in good standing for 15 months then she stopped paying. It is now in collections. It has been almost 5 years since a payment was made.

I got a raw deal during the divorce and was made to take on the majority of our debt and i refuse to pay a penny towards this (her) account. So were does that put me? Will I have to have 5% of the value assessed against my monthly obligations?

 

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Registered: ‎10-13-2015
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Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13


Gman425 wrote:

I have a $ 23,986 collection account. the account was awarded to my exwife during our divorce. The divorce stipulates several accounts are her sole responsibility and several were my sole responsibility. The account was in good standing when we divorced and stayed in good standing for 15 months then she stopped paying. It is now in collections. It has been almost 5 years since a payment was made.

I got a raw deal during the divorce and was made to take on the majority of our debt and i refuse to pay a penny towards this (her) account. So were does that put me? Will I have to have 5% of the value assessed against my monthly obligations?

 


Hi Gman425,

As long as we can document the account was "awarded" to your ex it won't be counted against you at all.

 

National Mortgage Banker.
VA Mortgage Expert.
New Member
Posts: 3
Registered: ‎01-30-2008
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Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

Hey VALoanMaster,

That is awesome news.

Thank you.

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Posts: 3
Registered: ‎01-30-2008
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Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

BTW i am a vet. I was looking at an fha loan on a house I own outright to pay a high 10.4% interest loan $16,000 and some past taxes that i have a repay agreement on $41,500. The house is worth 215k and I only want 75,000. I have a couple judgements 2500 and 1200 bucks. I was told those will be repayed with the loan.

Are the advantages to doing a VA loan?

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Registered: ‎04-02-2011
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Re: FHA changing collection account, judgments & disputed account guidelines (effective 10/15/13

 

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