Regular Contributor
scorerise
Posts: 150
Registered: ‎05-26-2009
Re: Paying charge offs or not

If you pay it, do it now. If that is your only current negative, you can show 12 months good credit when you apply for your mortgage.

 

I think the advice to not pay a CO is if isn't reporting negatively each month. I'm not sure though because I am in the "pay off CO" camp no matter what. Under manual review, your LO may require you to pay it anyway.