PLEASE HELP!!!!!!!!

[Anonymous]

Husband and I were preapproved for home loan.  We found a house, made an offer, offer was accepted.  We were going to have the house inspected next week and today we received an alert from credit monitoring service that a collection has posted to his experian and equifax reports because of an old cell phone bill that we honestly forgot about.  Has this ruined our chances of getting this loan because his credit score took a hit of about 30-35 points and it is fha.  Please, please, please help us!

[MissMia75]

When are you scheduled to close? Who is the collection from?

[Anonymous]

We are supposed to close on 7/20 and it is from At&t

[gul1]

We closed a few days ago with a VA loan and they did not check our credit again before we closed. Is your credit score borderline for the FHA loan?

[ShanetheMortgageMan]

It could be an issue, or it may not be, depending on your score, the required score for the loan you are qualifying for, when the account was sent to collections and what your lenders policy is on collections when doing an FHA loan... call your loan officer on Monday and get their advice since they are the one handling your loan.