Well here's the quick and skinny of it..applied for a mortgage to see if I could get a approved (live in the house I wanna buy) scores I'm told are good however I have an unpaid repo for 8.5k from 2006 thats suppose to fall off spring of next year and I'm concerned that's gonna prevent me from getting a loan. I have the means to make payments on it however its from an Ex-fiance (this is one of many reasons) and I don't wanna pay off her debt..and yes I know that since I signed its also mine but I'm just saying...scores are in the sig any constructive advise would be greatly appreciated.
Thank you for your response on this matter, I don't have any judgements..trust me I've been staying on top of that and had one vacated for midland funding. I've also opted out on promos on all 3 bureaus so that way I didn't have that happen (old sewer debt). this is simply showing as a charge off.
I've read posts here where small amounts threw monkey wrenches into everything. Based upon that, my gut says you'll have to wait it out (hoping to not get sued) or pay the price for co-signing.
Starting Score: 675Well..with much regret I've found out from 2 seperate brokers that this is not going to be a possibility due to the amount and that the statute of limitation in Ohio is 15 years...my choices are to setup a payment agreement with them which in turn would start the clock all over or wait till it falls off and hope and pray that no action is taken till after that...either way I'll be waiting until next year before I can make a purchase...sorry for the grim news..much like you said drkaje..paying the price...sucks that my family now has to suffer for it..but such is life. Goodluck guys/girls and if anyone finds a lender willing hit me up.
15 years is a long time. They might accept less and PFD but starting the ball rolling could make things worse unless you're in a position to negotiate.
