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Hi,
I'm new to this forum. I wanted to get some advice. Can I get a Home Loan if I have Charge-offs that are about 3 years old? Or would I be better off filing a Chapter 7 BK? Also, one of my charge-offs is a Home Equity Line of Credit of $132,000.00. Since the charge offs I have re-establish my credit somewhat w/ a car loan and a new credit card... my credit score is almost a 700.
Any advice would be greatly appreciated!! =)
most creditor's are looking for above 700 like 740. The other problems is that they would want the unpaid portion resolved to prevent a lien being filed against the mortgaged property. what are the dates of these charge offs?
its frustrating but mortgage companies just want you to pay old charge offs whether they are in Sol or not
Thank You for your response! Most of the charge-offs are about 2 y/o. What if I had a co-signer to help me buy a house.... would that help? Or would I still need the charge offs removed?
yes you would have to pay the charge offs before the loan closes.
so what is the rush? how about taking some time and fix your credit. If someone is close enough to you to cosign, it would be sad to screw them if something happens and you can't pay.