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Mortgage approval with 2 charge offs??

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Mortgage approval with 2 charge offs??

I have two charged off CC accounts from 2010, an unpaid first premier CC that shows a $515 balance and a Chase that shows a 0 balance paid. I also have a small $310 collection from an old cell phone bill that's even older.

My middle FICO score is 660, good credit history ever since 2010, what obstacles would I encounter trying to get an FHA mortgage with this situation?


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Super Contributor

Re: Mortgage approval with 2 charge offs??

the baddies are a part of your overall credit profile and is considered in the approval process.

most people get approved thru automated underwriting and then those accounts become nothing really.

 

important:  fha doesnt require them to be paid off. some banks do.  real simple: if the bank does, change banks

 

Retired Lender
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Established Member

Re: Mortgage approval with 2 charge offs??

Thank you!
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