Old Chargo Offs....do they affect mortgage chances?

[los_west]

I have old (2) charge-offs from 2007-2008.  It is listed on EQ as 0 balance, and sold to other lender.  There are no collection agencies/accounts listed on my current report.  I believe one of them was settled with portfolio associates...(and deleted)...but have no clue about the other.

So if I try to apply for a mortgage right now, would these TL on my report get me rejected?  Even if my overall score & util (less than 10%) is okay?

[mccallb]

It completely depends on your credit score now.  If you don't owe them money, and your fico has rebounded, a lender isn't going to penalize you just because you ever had one.  Its not emotional for them, that's why they rely so heavily on fico.  It algorithmically guesses whether or not you're going to default.

[DallasLoanGuy]

it is part of your whole credit profile......

it wouldnt take much good credit to make that insignificant

apply with confidence

[los_west]

Thank you for your insight!

[cclee]

I had a 2nd mortgage charge off in 09, it's reporting 0 owed, and I had no problems getting a mortgage last year.

[Peter1142]

If it is paid, the only relevance is the effect on your score, which is probably minimal with well reestablished credit