I have a question me and my Dw are applying for a grant for the NSP program from HUD to buy a foreclosed home and we are approved with Chase who is on the lender list for $200k, now my wife has an open collection from a private school not a goverment student loan for $2,576. this reports as date last active Sept 2004.
i am working on the Hud application through an agency know as the CRA. does this collection need to be paid or on a payment plan? i do not want to awake the collection agency on this and we have been left alone i know SOL expires this year on it. i spoke to my LO and he said just write a letter and not to worry about it, but im worried about the UW and the CRA seeing if they are going to force to pay it in full or payment plan.
need your guys help on this one...
