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Mortgage question

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Anonymous
Not applicable

Mortgage question

I have two collections on my account, both settles for about 50% . I make monthly payments on each and will pay them off before applying for a mortgage next spring. When I apply for a mortgage, will the fact that I settled the accounts for 50 % prevent me from qualifying? Should I call them back and pay the rest of what was initially owed? Thanks
Message 1 of 3
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StartingOver10
Moderator Emerita

Re: Mortgage question


@Anonymous wrote:
I have two collections on my account, both settles for about 50% . I make monthly payments on each and will pay them off before applying for a mortgage next spring. When I apply for a mortgage, will the fact that I settled the accounts for 50 % prevent me from qualifying? Should I call them back and pay the rest of what was initially owed? Thanks

No, unless they are colections from a previous short sale or mortgage default.

Message 2 of 3
Anonymous
Not applicable

Re: Mortgage question

No, they are not. Thank you.
Message 3 of 3
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