Mid score is 673, have 3 old (2006-2007) medical collections. One for $2400 (Jan of 2007), $370 (Dec of 2006), and $389 (July of 2007).
I have one cc with a balance of $1.99, income is fine for the amount I'm purchasing for (only 55k).
Question is about FHA, underwriting, and the old collections. I have been under contract since March 9th and was under the impression they had already ordered my FHA case number before April, which they didn't. I am aware that the new rules are suppose to now start July 1st (and praying daily that they don't), but with that set aside, any thoughts to qualifying with this scenerio? I was pre-approved in Feb, and have not done anything to hurt my credit at all. My last derog was from the $389 in 2007. My mid score was a 653 at that time...but the FHA rules weren't an issue then.
So, let's say the rule change doesn't happen or I get an FHA number before July should I be ok or do I need to worry?
