CAIVRS, FHA, student loan debt etc

QuestionsCAIVRS, FHA, student loan debt etc
dealpal Staff asked 3 years ago

Now I am sure this information is here somewhere but I have been piecing it all together and I am still unsure.

We have a preapproval for a mortgage and now we wanted to make an offer on a home. Buyer sent came back with bad news. We have to get rid of my student loan default status.

He felt as though conventional was not an option for us due to my 634 middle score and our less than 10% down.

So FHA is of course the answer. I was very up front with him as to not waste his time and told him we would not get an FHA loan because of my student loan debt.

So to question.

Can anyone confirm that any of the following will remove me from CAIVRS quickly-within a few weeks.

-settling the debt for less than owed.

-beginning loan rehab agreement

-paying down enough of the balance to remove it from delinquent status.- which will not end collection activity I suspect.

My total owed is $ 9000, so I thought if I could settle for $ 3k it might be the quickest way. Anyone have luck with this?

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