Major downsides to applying now for info & weed out any future dings on my CR

[mamahearts]

That's a very important point.  I'm glad you made it.  I know that's not the first thing we buyers think of when we're trying to get a loan. Everyone's focused on the steps leading up to buying the house that they don't consider what can happen if they carry debts forward after buying the house.

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@GregB wrote:

You do realize that as soon as you have the house the bank you owe $9K will take you to court, get a judgement plus attorney and court costs, and put a lien on the house, right?

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[Booner72]

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@Anonymous wrote:

Even though it would be outside SOL? Or maybe I just don't quite understand SOL. I thought SOL would be up 4 years after ther date they sold the car at auction. And after that if they took me to court, I could use SOL as my defense.

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Every state has it's own rules about SOL and I believe REPO's are different than other kinds of collections.  You should use the search box here on the forum to read other posts about repo's.

[doublespaces]

Let me tell you a story.

I bought a 2005 BMW 330i in 2007 and I was 21. In 2009 I was still making payments on that car, but I was making more money and I bought another car, a 2007 BMW 335i. It was a newer model, twinturbo etc etc. I spent about 17,000 dollars modifying it and it was the most modified 335i in the whole valley of Phoenix for a period of time until proven otherwise. Then I paid two full coverage payments, then my job got **bleep**ty, then I sold off all the parts, ended up wrecking the car, although insurance covered it, I wound up back to square one with my same 2005 BMW, a crash on my record, a bunch of money spent and the truth is, I should have just paid off my car.

I guess I'm just saying to you, the house is so close within reach, yes you could put off other things to get there, but just do it the right way. You'll save yourself headaches down the road and you're just taking a shortcut just like me. Shortcuts are usually mistakes. Mistakes are bad because that means we usually regret them, and that means you'd regret buying your house before paying off the repo.

[Anonymous]

I was not required to pay any collections, however they were mostly medical and all under $200.