Medical collections & FHA

Anonymous · ‎05-07-2012

I know that the ruling on the FHA loans and medical collections has been pushed back, but are the LO still using that guideline.? Thanks

rckstrscott · ‎05-07-2012

@Anonymous wrote:
I know that the ruling on the FHA loans and medical collections has been pushed back, but are the LO still using that guideline.? Thanks

My LO did not use the new guidelines

-scott

Starting FICO Score: October 2010: TU 498 | EQ: 502
Current FICO Scores:: May 2022: TU: 784 | EQ: 770 | EX: 790

Anonymous · ‎05-08-2012

My lender is not using the new guidelines either. I was just pre-approved on April 30th.

LondonMassey · ‎05-08-2012

I've been under contract since the beginning of March for a short sale, I've asked my broker several times about the rule change and some old collections (2005-2007 that total about 5500) and he said it's not an issue. My FHA number was ordered before April 1st (initial start of rule change), also.

Cap1(sc) 550, Cap1 750, Walmart 750, Home Depot 3000, Amazon 700, US Bank 1500, Childrens Place 1100, JC Penney 700, Old Navy 700, PayPal 700, Torrid 700, Lane Bryant 150, Avenue 500, OSP 500, Amex Blue 2000, Disc it 1000, Walmart Disc 2200, Old Navy Visa 1700, Mortgage 09-2012, Car Loan 03-2013

Current Score: EQ 665 EX 687 TU 695

Take the FICO Fitness Challenge