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Charge-Offs and Buying a House
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Posted by anon
(204.107.45.7) on January 24, 2003 at 13:12:37:
I live in Ca and have a few charge-offs on my credit. In everything I've read the lender will make you pay those off before they will lend; however, when we originally submitted all of the paperwork including bank statements, pay stubs, etc. they pre-approved us no questions asked. We are putting 20% down and the charge-offs will come off the report in a couple more years. I hate to pay them off and have them re-aged. Is there a chance there will be an issue at the end when it comes time to close escrow?
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