Re: SHANE OR BRIAN, PLEASE?

Anonymous · ‎03-20-2009

Hi everyone. I have some old charge offs pre-2003. They total less than 200 ea. with a total of about 2 accounts. Do you think this will get me disqualified for an fha loan, given that I meet all the other requirements. thanks

DallasLoanGuy · ‎03-20-2009

No.

FHA does not require them to be paid.

Some lenders will.

You can always go to a lender who doesnt make you pay.

Retired Lender

WannaHouse · ‎03-20-2009

Do NOT touch those old accounts. If you try to pay them, it will update to current and may very well hurt your scores!!

Anything within the last couple years needs to be clean. No lates, etc

Kathy

We are finally homeowners!!

Closed May 5th-30 yr fixed at 5.25%.

Anonymous · ‎03-26-2009

Thanks a lot you guys.

BrianB_The_Loan_Professor · ‎03-26-2009

AGREE 100% with both

older smaller chargeoffs are ignored do not do anything to update them

Good Luck

B

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Brian B The Loan Professor
Mortgage Banker - offering FHA, VA, USDA , and Conventional mortgages in all 50 states -

If I do not respond to a follow up question please feel free to contact me directly

SHANE OR BRIAN, PLEASE?

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SHANE OR BRIAN, PLEASE?