Re: Paying charge offs or not
06-15-2009 02:34 PM
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.