Trouble getting PFD, Chase sent to collector, not taking payment

[Anonymous]

whats the logic behind not paying or settling before Mortage pull? Thats something interesting and i would like to know .

Thanks!

Regards 

Starting Score: EQ: 576 - TU: 632 - EX: 615 - 12/20/2014
Current Score: EQ: 635 - TU: 662 - EX: 619
Goal Score: EQ: 700 - TU: 700 - EX: 700

[RobertEG]

It depends upon the requirements of the mortgage lendor relating to presence of unpaid, delinquent debt.

Some may require satisfaction of any unpaid delinquent debt as a precondition for loan approval.  In that case, the effect on your score becomes secondary.

The logic, if there is any, in waiting is to see what your lendor will require.

A preliminary consultation with them would be advisable.  If you know it must be paid, wating for your lendor to instruct you as such may leave no time to pursue a PFD.

Pursuing a PFD now would, if suxcxcessful, obviate the problem.

[Anonymous]

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@RobertEG wrote:

It depends upon the requirements of the mortgage lendor relating to presence of unpaid, delinquent debt.

Some may require satisfaction of any unpaid delinquent debt as a precondition for loan approval.  In that case, the effect on your score becomes secondary.

The logic, if there is any, in waiting is to see what your lendor will require.

A preliminary consultation with them would be advisable.  If you know it must be paid, wating for your lendor to instruct you as such may leave no time to pursue a PFD.

Pursuing a PFD now would, if suxcxcessful, obviate the problem.

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That's exactly what my mortgage company did way back when.  They never even brought up scores but absolutely insisted that either i pay off a couple delinquent debts or they would as part of the mortgage approval.