Re: Settlement and buying a home
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Posted by observer
(152.163.189.170) on January 23, 2003 at 15:10:20:
In Reply to: Re: Settlement and buying a home posted by switzer on January 23, 2003 at 14:32:47:
Whatever you have to do, don't let Sears go into collection. They will sue you in a hurry for $5K. I'd put all home buying plans on hold until you get the soon to be chargeoffs under control. No one will fund a mortgage until alljudgments and collections are satified and even then, the interest rates will be quite high. Your best bet at conventional rates will be FHA but they will require all collections paid plus at least 12 consecutive months of clean credit.
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