@coterotie wrote:
Are they collections or judgements?
Makes a big difference. IF collections, you might have a score high enough to get over the FHA credit score mark and if you have a written agreement a good lender can likely get it approved. Additionally, make sure the SS income is grossed up for income qualifications purposes. Many folks don't know how to do this in desttop underwriter, make sure your lender does. What it means is that your ss income of 1,200 per month is really 1,500 for mortgage qualification purposes. So with your husbands raise your gross income should compute to $5,833/month.
Out of curiosity how large are the collections? Any way to PFD or goodwill them? Do you have anything good in your file or is it all negative info?
@stefnian0426 wrote:
Thanks for the info
We were planning to use a mortgage broker.
Sorry i did not get the notification about your comment.
Since the post my husband took the new job. Currently making 52k a year.
i have 2 judgements. one is $1200= i pay $50 a month. have been for some time until i have enough to pay off.
other is a old medical bill- $6600 i had insurance but the hospital never submitted the claim. My old insurance i had at the time still says they would cover it but the hospital can not provide proof of timely filing so they cant do it. Sucks. I had great insurance that would of covered all.. but anyway..
Both judgements are over 5 years old. i think they are to come off in 2016 and 2018 from my report.
I have tried with GWL but neither place has seemed to care or help.
i have 5 credit cards= that i got from the shopping cart trick. all around a 1 year. 100% payments in hopes to rebuild my credit. Which is did. Just have a balance on 1 of them. currently 40% ussage.
We did find a house that we really really like. Currently lowered to $129,900. taxes 6k. Its a forclosure with fannie may. Do you think with his new job he would great approved for that amount?
Thank you again.
