@StartingOver10 wrote:
Are you paying on the medical debt or is it a collection or judgment? If it is already at judgment status then the debt will need to be paid prior to closing. In that case it is even better to negotiate a judgment prior to even app'ing for a mortgage so you have leverage. If its' a collection, then go to the rebuilding forum to get ideas before you pay it (PFD etc).
All debt is supposed to be reported to the lender as it affects your ability to repay the mortgage. Search for the standard mortgage applicaton Form 1003 and familiarize yourself with it. I also suggest going to a good mortgage banker when you actually do make application so you can rely on the figures and information from the mortgage banker.
I only have a paid judegement im working on getting vacated. I just meant, if you have a medical bill you are paying on and is not in collections, do you report it, also a family member loaned me money to move and am paying them back, do I have to report that, I dont have rent a center, but was just curious about these types of debts.
I dont want to leave anything out, but I dont want to spew at the mouth all of this debt if its not necessary.
I will look up the form now. thanks
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