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Freaking Out HELP!!!

Established Member

Freaking Out HELP!!!

I've been poking around the forums for a while and I keep coming across stuff about how even though something falls of your CR doesn't mean a lender can't see it. I'm freaking out about this because the hubby and I really want to buy a house and we have busted out rear ends trying to pay stuff off and improve our scores. I know there is unpaid stuff that has fallen off our reports. We were huge fans of the ostrich method for quite a while. You know stick your head in the sand and ignore it till it goes away. I have no clue what could be lurking and now I'm paranoid that when we do go try to buy a house this stuff will come back to haunt us. What should I do?

4-1-13 My FICO 633
Joined the Garden Club 04-08-13
Message 1 of 7
6 REPLIES
Regular Contributor

Re: Freaking Out HELP!!!

I was told in this fourum that the mortgage will see all unpaid debt even if it falls of the report, they see everything, your best pick as I was advised is to pay them off if you want to get mortgage.


Started :
05/05/2013 EX :525,TU:542,EQ:535
09/30/2014 EX :655,TU:669,EQ:664
In Garden Since 03/16/2013
Will not Apply till 03/31/2015
Message 2 of 7
Established Contributor

Re: Freaking Out HELP!!!

It's very rate that they look at that, usually if you're wanting a loan more than $150,000 (this is what I've read on here) my husband and I have been speaking with a lender and told them he has two things falling off this year (one fell off tonight) and they didn't say anything about it being an issue (this is for a USDA loan)
Message 3 of 7
Established Member

Re: Freaking Out HELP!!!

The problem is I don't have any idea what is there!

4-1-13 My FICO 633
Joined the Garden Club 04-08-13
Message 4 of 7
Established Contributor

Re: Freaking Out HELP!!!

Rare*
Message 5 of 7
Frequent Contributor

Re: Freaking Out HELP!!!


chicharitta wrote:
I've been poking around the forums for a while and I keep coming across stuff about how even though something falls of your CR doesn't mean a lender can't see it. I'm freaking out about this because the hubby and I really want to buy a house and we have busted out rear ends trying to pay stuff off and improve our scores. I know there is unpaid stuff that has fallen off our reports. We were huge fans of the ostrich method for quite a while. You know stick your head in the sand and ignore it till it goes away. I have no clue what could be lurking and now I'm paranoid that when we do go try to buy a house this stuff will come back to haunt us. What should I do?

I don't know how much of this is fact.  I think if you are requesting a jumbo loan they can.  I can't imagine someone really going back umpteen million years to dig into your past.  The past 7 years is a very large snapshot of someones credibility.  In fact, some lenders look past collections that are on your report if they are more than a few years old.




June '12: EQ 553 TU 0 EX 545
April '13 Lender Pull EQ 731, EX 692, TU 722 - all FICO

Closed on home May 22, 2013 at 2:00pm!!!
CU Visa $1000, VS $350, Chase Freedom $1000, Discover IT $2500, Home Depot: $2700, Menards $3000, NFM $3500
What's been deleted: 32 collections, 5 PR, 2 tax liens, defaulted student loans
Message 6 of 7
Established Contributor

Re: Freaking Out HELP!!!

It is rare, only some lenders do it and its only on a loan of 150,000 or more.  If thats a requirement you can always look for another lender that wont require it.

Message 7 of 7