Credit Card Center Advertiser Disclosure

New Member
Posts: 2
Registered: ‎12-27-2012
0 Kudos

Mortgage company that will accept a $10,000 collection

We are wanting to buy a house and have spoken to a few leanders which all say with the large collection they would not be able to help us.  We do not want to pay this collection because it is out of SOL.  We also have a couple of very small ones that are like a $200.  Our income is 98k a year with only $315.00 in monthly payments. My husband has been in the same industry for 30 years and we have been married that long.  We were transferred and had to sell our home 3 years ago in order to move.   We are getting up in age so wanting to get this home purchased so it can hopefully be paid off by the time my husband retires.

Has anyone RECENTLY been able to obtain a loan with simular conditions?  By the way we are in Austin, Texas

Regular Contributor
Posts: 226
Registered: ‎12-11-2012
0 Kudos

Re: Mortgage company that will accept a $10,000 collection

I had one for 9k when I first started looking and no one would touch it without a large amount of reserves in the back (6mo - years worth of mortgage payments). Best suggestion I was given was a PFD. I ended up settling it for 1500 and they deleted it which gave me a nice score increase to boot. Plus, I never have to worry about it boomeranging back. Mine was 5 years old.

12/11/12 Starting Score EQ FICO - 583/ TU FICO - 615/
4/1/13 - Lender Pull - TU - 645 EQ - 675 EX 712
Each One - Teach One

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.