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rambler

Just wondering

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I am knocking on the door of getting my scores in the range to get a pre-approval from the VA lenders I have been looking at. My main concern though is will I be able to get the loan with the scores if I have outstanding unpaid items on my credit report?

I should have everything cleared up next month with one exception which is reporting to all 3 CRAs. There is no way I can pay this off anytime soon even if I wanted to. They are claiming over 12k on a charged off account. Now, besides not being able to pay them off, I wouldn't if I could. Bunch of crooks, but that is another story. On the up side, being here in TX all they could do if they were to get a judgment would be to put a lein on the house for when I sale it, but the debt occured while I was living in another state for goods in that state and the SOL for that state has run it's course so really they can't even sue me.

Worst case I will have that 1 item on EQ, 2 on TU, and 3 on Experian that would be unpaid (although like I said I should be able to take care of all of them except the biggie next month).

Just curious on my chances of getting the loan for a house soon. I am SOOOOO sick of renting

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Very difficult. Most banks at minimum would want that item paid prior to closing. You might want to try a 623 letter (if they are a creditor) to get it removed.

If not perhaps a stip agreement with them where if it's a collection they agree to remove it while the payments are being made might (low percentage of chance) work.

Be very careful if you do this.

1) The stip CANNOT say it is a "re-payment agreement". Have it called something else like settlement" etc... A new repayment agreement constitutes a "new" credit agreement which of course can be reported.

2) Must be conditioned on the removal of the account as a charge off or however it is listed now with the caveat that if you don't pay later you face a law suit and it will be reported.

This is a very tough call but absent more information on what exactly the account is and how it got there it's a fair shot.

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Well, I know everything can change in a heartbeat and they can always come back and hit me with it right before closing, but I got pre-approved for a mortgage this week. Been fighting with my credit crap for a year now for this moment. Not done, but at least cleared that hurdle.

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