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Impact of very old debts on mortgage application

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axxy
Regular Contributor

Impact of very old debts on mortgage application

If you have debts so old all the CA's stopped trying to collect years ago, will they come back to haunt you when you apply for a mortgage?  How old could they be and still be a problem?  Way older than all possible SOL's, including both collection and reporting SOL's.  In the distant past, most CA's re-aged old debts to cause problems with mortgage applications.  Do they still do that?

 

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DallasLoanGuy
Super Contributor

Re: Impact of very old debts on mortgage application

they could re-age the accounts or something.

 

opt out with the credit bureaus... that will help

 

and make sure all dispute comments are gone from credit. otherwise lender has to pull a new one after you get them removed

 

Retired Lender
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