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Re: Cleaning up credit...want a house...


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Posted by observer (64.12.96.205) on January 29, 2003 at 23:01:51:

In Reply to: Re: Cleaning up credit...want a house... posted by Pamk on January 29, 2003 at 21:17:24:

OK, the bk should have dropped off your report in 2002.
Man, I don't think this mess can be cleaned up overnight. I will say if you have a full year of good payment history you can qualify for an FHA mortgage. The loans are not score driven but do require you to clean up all collections and chargeoffs. But, you will get conventional financing. This may well be your best bet. You really don't owe that much and paying it off in exchange for a conventional mortgage is not a bad tradeoff. I'd see another broker about FHA. Taking a high interest subprime loan with huge fees just isn't a good idea.


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