FHA..... Disputed Accounts & Collection s. UPDATE!!!
06-18-2012 01:44 PM
http://portal.hud.gov/huddoc/12-10ml.pdf
In order to provide clarification of policies concerning Disputed Accounts and
Collection Accounts through future guidance, FHA is rescinding the new
guidance on the following topics in Mortgagee Letter (ML) 2012-3, which
was to become effective July 1, 2012:
Handling of Disputed Accounts, Public Records FHA Total User
Guide Chapter 2, and
Handbook 4155.1 4.C.2.e, Paying off Collections and Judgments.
All other guidance in ML 2012-3, which became effective April 1, 2012,
remains in effect.
* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.
* Lending across the entire 'Great State of Texas' since 2004
Re: FHA..... Disputed Accounts & Collection s. UPDATE!!!
06-18-2012 02:25 PM
Ok so that means they're cancelling what was to become July 1st, meaning you won't have to have collections paid that are over $1k?
I'm FINALLY a homeowner .. 10/24/12!!!!
My Cards ~~~GARDENING~~~ BNSF CU ($1000) BOA ($2500) Amazon / GE ($900) AMEX BCE ($2500) Chase Freedom ($3000) US Bank Cash + (7500)
Re: FHA..... Disputed Accounts & Collection s. UPDATE!!!
06-18-2012 02:37 PM
courtney091082 wrote:Ok so that means they're cancelling what was to become July 1st, meaning you won't have to have collections paid that are over $1k?
Correct.
"Knowledge is knowing a tomato is a fruit. Wisdom is not putting it in a fruit salad."
Re: FHA..... Disputed Accounts & Collection s. UPDATE!!!
06-18-2012 02:44 PM
Awesome!! That should help lots out to get a mortgage sooner ![]()
I'm FINALLY a homeowner .. 10/24/12!!!!
My Cards ~~~GARDENING~~~ BNSF CU ($1000) BOA ($2500) Amazon / GE ($900) AMEX BCE ($2500) Chase Freedom ($3000) US Bank Cash + (7500)
Re: FHA..... Disputed Accounts & Collection s. UPDATE!!!
06-18-2012 02:58 PM
courtney091082 wrote:Ok so that means they're cancelling what was to become July 1st, meaning you won't have to have collections paid that are over $1k?
exactly.
also rolling back the proposed 'disputed accounts' rule.
* While I try to visit the forum often, please feel free to contact me directly with a link to your post if I fail to answer a follow up question.
* Lending across the entire 'Great State of Texas' since 2004
Re: FHA..... Disputed Accounts & Collection s. UPDATE!!!
06-18-2012 04:31 PM
Current FICOs (EX and TU Lender pulled 10/6/12): EQ 652 TU 635 EX 647
Matthew 7:1 KJV
Judge not, that ye be not judged.
