Mortgage Credit Score, and the situation ..?
My husband and I were looking to buy our first home in order to obtain FHA loans. But after doing some research for a few months ago, I discovered that my husband had a terrible credit 547th $ 11.170 for a student loan that his father was court ordered to pay the divorce was over 90 days at the end of the 9th separate occasions. His father has never said he did not repay the loan, and as she was called, but the contact was his father and mother or his home (which he does not speak). After talking to a mortgage specialist, we realized, would not be such that it would be good for us, even given the mortgage. Thus, some of my friends did say that they give us a place to stay financially so that we can focus on our work off their student loans. So my first question is, if we put more than $ 2,000 per month to its credit, how long does it take before you begin to get a credit score? Also, my husband threatened to take him to court for violation of the court, where his father then said he would be able to obtain $ 5,000 loan to cover costs. My second question is, when we contacted the U. S. Department of Education Loan / Direct (borrow) and told them of the situation that we had put in $ 5,000, and so we can send a copy of a court order, they will eliminate most of the bad credit loan ? If someone could please give us some answers and an understanding of what we could do, I’d be very grateful. This whole situation has taken such a tension in our marriage and I do not know what to do at this point.