Good Evening. There is no waiting period, but you must have a credit score to qualify for a mortgage and the accounts will need to be back in good standing.
Not necessarily, but they will need to be paid off first. Paying off any collection or charge-off can DROP your credit score. Sad but true. That's because it takes a collection account that is months or years since the last activity and makes it have recent activity. The credit score models read this as a recent collection. Very stupid that this hasn't been addressed by the credit industry.
Bring accounts current, then contact a member of this forum. For an initial review of your situation, contact me, Dave Metsker, at my local office number, 503-620-2239.
You student loans must be paid in full or up to date and out of default status before you can purchase or refinance your home.
All judgements have to be current
We have programs available that allow some collections / charge-offs to remain open as long as you have other compensating factors in place. Give me a call and we can discuss in more detail.Charles Edington | Regional Sales ManagerPrimary Residential Mortgage, Inc. Toll Free: 1.800.255.2792 ext. 1207www.applywithprmi.com | cedington@primeres.com
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