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thank you for the advice! Congratulations and enjoy your new home!
oh boy.. I’m also in Arizona and I believe I have the same female MC you mentioned. All I’ve seen lately in the Phx Market are extreme bidding wars. did you have to deal with any of that as well?
For the 80% of MSA, they won’t include household member’s income right? since that’s not used for the qualification amount.
Thank you, @ttrumble! That is such good news, I kept getting the 12 payment answer! Looks we may be able to qualify even earlier! *fingers crossed!*
Has anyone had success getting qualified once their student loan is out of forbearance but less than 12 payments have been made? The rehab program we’re in ends in Sept and the loan would be considered out of default but there will have only been 9 months of on time payments. Any advice is appreciated!
Thank you for your insight Tim. I also like the emphasis on “experts” 😀 We are uncharted waters for sure, whether the bubble will slowly deflate or just burst entirely… I guess we’ll find out!
I know NACA is not looking at score or utilization, which I am so thankful for! I just figure if the possibility to increase my score is there I want to take advantage. As long as it doesn’t cause any issue from an underwriting stand point.
@2BLESSED Thank you for always having a positive word. Have been following your updates and was very happy when you got your clear to close.March 9, 2020 at 8:30 pm in reply to: Need Clarification please! Charged Off Private Student Loans #66113
I’ve been trying to get clear answers on the “24 months” limit and my MC said to refer to the date opened and when NACA pulled your credit. BUT this is the same MC who’s stating we need to pay medical bills that are over 3 years old. Like you said, I really like her as well and will do the work but if it doesn’t make sense or I don’t HAVE to I rather put that money to something else.
From what you’ve explained an LOE should be sufficient.
Thank you! I’ll mention this to my MC I’m not sure why I’m being asked to pay things that were added to the credit bureau in 2014 and 2016. :/
@TTrumble I’m currently trying to get qualified and I’ve been told by two MC’s in my local office that the lender NEEDS to see 12 months of payments on defaulted student loans, even though the rehab program I’m enrolled in is 9 months long. They still need to see 3 payments once it’s out of default. My biggest issue with this is this is a household members (my husband) student loan.
I noticed in the work book it says 3-12 months of on time payments. But each MC says that information is not true with BofA.Could you clarify if this is correct?
Well since I’ve got quite a bit of time until qualification I think I’ll get documents showing it’s medical and over two years old and ask my MC if that’ll be good.
I was just about to ask a similar question to this I’m glad there’s already a recent thread. During my intake when we got our action plan and were told we had to pay two items that were over two years AND medical collections. I have one that will be two years old in May and we won’t be qualified by then (thank you student loans!) so should I just write an LOE? It’s also a medical collection, I was actually surprised when he told us we would have to pay those because the workbook makes it seem otherwise.