Paying charge offs or not
06-15-2009 01:18 PM
I am working on rebuilding my credit after a divorce that crippled me financially. My forclosure will be 3 yrs old July 2010. and I plan on FHA mortgage hunting again at that time. I have been on time for the past 2-1/2 yrs. Score now mid 600's. However I have 1 Cap one Charge off from 06 that keeps updating. I have heard mix advise on should I settle it or just let it go. It is killing my utlization. Will FHA approve a mortgage with a charge off? And if I settle will it show up as a recent late?