FHA purchase & credit help

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    • #252030
      Anonymous
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      Tricky situation…maybe? My husband is in a. Chapter 13 & has on time payments with 1.5 yrs left to pay. We have all bills including mortgage figured into payment (car too). I am not on it but do have a lot of collections. Mostly medical due to my daughter being born with a medical condition (she’s ok now). Our scores (equifax from our loan officer) are 601 & 603. He doesn’t have any credit cards & the trustee won’t allow any. I also do not have any active trade lines. I do however have a lot of on time alternative trade lines. We have permission to sell & buy a new house from trustee. We will have at least 5% down & have great income & job stability. We are working on credit repair now to boost our scores to our lenders min of 620. My worry now are the collections on my credit & the upcoming new law. I don’t have the money to pay off before closing all those bills & my credit repair guy said he cn get most deleted & to not pay anything off yet. Any word on the new law for collections or any ideas for us? We are in a great financial situation now & feel stuck. He orig filled for 13 because he was laid off, our kid was also born with a medical condition at that same time & we fell behind on 1 cc & 1 unsecured loan.



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