Bad debt ?

[Anonymous]

Trying to Refi before my ARM drops off and my mortgage quadruples!!!! Having trouble trying to figure out when Adverse accounts should fall off my report! Is it 7.5 yrs from date opened, date closed, first report of deliquency and are the rules the same for all 3 agencies? The pain of living carefree in my early twenties is now my thirty something nightmare!

[Anonymous]

It depends what type of baddies are they?   Charge offs/ Collections will fall off 7.5 from the Date of Last Deliquency that led to the charge off.   Lates are 7 years from date of late payment.

[Anonymous]

If it is collections, Fannie Mae does not really care about them.   This would be best home loan program for you - assuming full doc.   If you have any problems, send me an email and I should be able to help you out.

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