No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Can I get a mortgage with student loans that were in sold/transferred status? Do they need to be rehabbed first? Or can I proceed like this?
thanks.
Were they federal? What is the status of the loans now and who owns the debt (amounts)
B
The Loans were originally with Citibank and I even received a Citidebit card to go with it. They were then sold transferred to the Department of Education. The amounts are for around 1553${this one says paid on experian it was recently updated)and the other one is for about 6000$ and a third for $3500; all 3 show up as sold and closed by citi on experian but only two of the sold ones are showing up as one of them drop off my report. One of the sold ones,US DEPT OF ED/ATL, says paid collection was a claim insurance claim government default,{I never paid this but they claim I did} it updated in Feb. that is the 1553$ with terms of 36 months
and the other one,US DEPT OF ED/GLELSI says: transferred to another office and the payment status says unknown and account status is closed, payment status details: account transferred to another office with a bunch of lates showing and date of 2012 as status updated and terms unknown, when I never made payment. I don't even know if that is the 6000 or the 3500 one.
Now for the Transunion report. They also show the citi closed transferred sold original ones with 0 balance. And for the sold ones. They are only showing this one and it says late 120 days with a payment of 50$ that I never made and account closed due to transferred while experian has this one listed as paid and closed. US DEPT OF ED/GLELSI $1553, CONDITION:transferred, Monthly payment: 50$.
The way these are listed is a bit confusing to me. The same one is listed on experian as paid and closed and on transunion as closed and transferred with a 50$ payment and a bunch of lates.
Bottom line 2 of them show up on Experian the 1553 says paid and closed and the other one says unknown and transferred to another office.
One shows up on Transunion, the same one that says paid on experian and it says: transferred with a monthly payment of 50$.
Thanks for responding BrianB_The_Loan_Professor
Edit: Equifax just deleted them all this year hence none are showin on the Equifax report.
It sounds like you need to do some work to get them in order - if they are not private loans the mortgage guidelines are very strict on them especially if you are trying for a govt loan -
Good Luck
B
You cannot get Federally funded financing when you are in default on federal student loans
If they are private loans not owned or guaranted by the Govt there is a chance that you can get financing with them showing as a negative.
Having large balances makes it tougher even if they are private loans
B
thanks for responding. I guess mine went from private with Citibank to Government loans after they were transferred. I guess I won't stand a chance on a mortgage on my own until I get these paid down.