Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
Re: MORTGAGE

‎09-15-2007 10:32 PM

They just need proof of payment - Does not mean it needs to show paid of the CR.

You might be able to put the $ in an escrow acct to be paid by the CU on closing.
This will save you from them backing out on the loan and you already paying the CA and getting the score drop.
(1,091 Views)
 
Valued Contributor
ashabbir1
Posts: 1,084
Registered: ‎06-24-2007
Re: MORTGAGE

‎09-16-2007 05:52 AM

Thanks for your reply Tim. Do you think paying the CA would drop my score?
 
thanks
 
 
 
(1,076 Views)
 
Valued Contributor
ashabbir1
Posts: 1,084
Registered: ‎06-24-2007
Re: MORTGAGE
[ Edited ]

‎09-16-2007 07:05 AM - edited ‎09-16-2007 07:06 AM

I have a collection with capital one. I owe them around 1900 dollars. As everyone knows by now I am applying for a mortgage. I just received a letter few days ago from CA about capital one charge off. I want to know that if I make a payment plan with CA. That is enough proof for mortgage company that i am making payments or I have to pay in full?
 
Thanks
 


Message Edited by ashabbir1 on 09-16-2007 07:06 AM
(1,068 Views)
 
Moderator Emeritus
Timothy
Posts: 9,252
Registered: ‎03-19-2007
Re: MORTGAGE

‎09-16-2007 10:53 AM


ashabbir1 wrote:
I have a collection with capital one. I owe them around 1900 dollars. As everyone knows by now I am applying for a mortgage. I just received a letter few days ago from CA about capital one charge off. I want to know that if I make a payment plan with CA. That is enough proof for mortgage company that i am making payments or I have to pay in full?
Thanks


Message Edited by ashabbir1 on 09-16-2007 07:06 AM



You are gonna have to ask them.
My Gut feeling is NO- They are going to want it paid.
(1,056 Views)
 
Established Member
rk2
Posts: 14
Registered: ‎07-05-2007
Re: MORTGAGE

‎09-16-2007 10:55 PM

well my best advice for you is go  to your lender and find out if they can do rural development loan.
good luck .
(1,029 Views)