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Disputes need to be removed because they mask your score and the automated system can not tell the difference between an old dispute that has been resolved (but the comment remains) and a new active dispute.
I have a $ 23,986 collection account. the account was awarded to my exwife during our divorce. The divorce stipulates several accounts are her sole responsibility and several were my sole responsibility. The account was in good standing when we divorced and stayed in good standing for 15 months then she stopped paying. It is now in collections. It has been almost 5 years since a payment was made.
I got a raw deal during the divorce and was made to take on the majority of our debt and i refuse to pay a penny towards this (her) account. So were does that put me? Will I have to have 5% of the value assessed against my monthly obligations?
@Gman425 wrote:I have a $ 23,986 collection account. the account was awarded to my exwife during our divorce. The divorce stipulates several accounts are her sole responsibility and several were my sole responsibility. The account was in good standing when we divorced and stayed in good standing for 15 months then she stopped paying. It is now in collections. It has been almost 5 years since a payment was made.
I got a raw deal during the divorce and was made to take on the majority of our debt and i refuse to pay a penny towards this (her) account. So were does that put me? Will I have to have 5% of the value assessed against my monthly obligations?
Hi Gman425,
As long as we can document the account was "awarded" to your ex it won't be counted against you at all.
Hey VALoanMaster,
That is awesome news.
Thank you.
BTW i am a vet. I was looking at an fha loan on a house I own outright to pay a high 10.4% interest loan $16,000 and some past taxes that i have a repay agreement on $41,500. The house is worth 215k and I only want 75,000. I have a couple judgements 2500 and 1200 bucks. I was told those will be repayed with the loan.
Are the advantages to doing a VA loan?
Are you a mortgage banker? Can you help me?
Does the explanation really matter or do they just want to see someting in writing?
I am running into an issue now where there was a judgement against me but it was included in my BK and they still want an explanation.
This is what I was told to provide:
Letter of explanation: type it up and sign it please, simple sentences work, no need for crazy detail
To me it sounds like they don't really care and just want me to validate it?