Re: Do old chargeoffs
/collectio ns and lates matter for FHA?
09-13-2012 09:41 PM
As long as those things are taken care of and you have a strong payment history after that, you should be fine. if anything a good LOE will probably work well.
As far as the collection, I've always been told to NOT touch them, as it will update as a new collection. Did you in fact pay it? Or just thinking about it?
If they are paid and your scores are OK don't bother with them until after your mortgage loan processs is done and you have the house. If you put those accounts into dispute it can be a pain to get those off for the mortgage.
Starting Score: 504
Current Score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Going for Wade64's RUDY Spade!