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Will we ever be able to buy a house?


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My DH & I have worked very hard on our credit reports. My scores are now in the low 600's & his are in the mid to high 600's. We recently obtained a car loan through our credit union, which should boost our scores after a while, especially my husband's since he had no installment loan history on his report. Anyway, I have an MBNA charge-off of $7,700 that won't budge off EX & TU. I have GMAC late pays that won't budge. I don't know how many times they were ready to repossess, but we always found a way to pay them enough to let us keep the car (through 3 periods of unemployment). I have 9 60-days & 18 30-days on that one. We just recently traded that car in, and I'll start re-disputing soon. On EX, I have 3 Wells Fargo charge-offs that won't budge. That's it for me (isn't that enough???). My DH has a judgment on EQ that won't budge, but it drops off in a couple of months. He has a couple of small charge-offs. His big thing is child support for the state of Minnesota that is listing as a collection account. Due to a combination of not knowing where his kids were for 3 years and 3 periods of unemployment, he owes nearly $40,000 in child support arrearages. He is currently paying his child support obligation plus an extra $400 towards arrearages, but with 18% interest, we'll never get it down. We've been told it will always show as a collection account until the arrearages are paid in full. We would love to buy a home and build some equity in it in order to get a home equity loan to pay off the child support, but I'm assuming that would be impossible. Will I have to wait until my credit is clear for two years and then try to get a home in my name only? That will really limit our choice of houses if we can't use his income. I know this is long, but I would love to know if anyone has any suggestions. We aren't trying to get out of paying the child support. We just want to figure out how to do it. Right now, we are paying outrageous rent and could easily be making smaller house payments and building up equity to take care of this debt. Will anyone loan us money for a house with this type of outstanding debt? We have proof that he is meeting his monthly obligation and making monthly payments toward arrearages. Help please!!!

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