U.S. CitiesCity-Data Forum Index
Covid-19 Information Page
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 07-20-2008, 08:26 PM
 
94 posts, read 346,493 times
Reputation: 28

Advertisements

I read this on a thread here. What about if it was a collection account that was paid off?
Does that count as a 12 mth thing? So do you mean you have to wait 12 mths to get a mortgage after you pay off a collection account or any account that was "late" ? (we have 0000 dollars of debt on our report, but it was all just paid off in the last few months) they were charge offs that we paid. I'm confused......
Rate this post positively Reply With Quote Quick reply to this message

 
Old 07-20-2008, 09:34 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,370,580 times
Reputation: 958
Quote:
Originally Posted by worried4kids View Post
I read this on a thread here. What about if it was a collection account that was paid off?
Does that count as a 12 mth thing? So do you mean you have to wait 12 mths to get a mortgage after you pay off a collection account or any account that was "late" ? (we have 0000 dollars of debt on our report, but it was all just paid off in the last few months) they were charge offs that we paid. I'm confused......
If the account went to collections more than 12 months ago and you paid it off a couple of months ago than it is a non-issue.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-20-2008, 09:35 PM
 
Location: Charlotte, North Carolina
5,137 posts, read 15,624,098 times
Reputation: 1008
it doesn't include collections.

collections over 2yrs typically dont have to be paid.
medical collections don't have to be paid...
Rate this post positively Reply With Quote Quick reply to this message
 
Old 07-20-2008, 09:52 PM
 
94 posts, read 346,493 times
Reputation: 28
Well, crap, I wish we wouldn't have paid those medical collections then. LOL, just kidding. We always wanted to pay the bills. Thanks for clearing that up for me.
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2020, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top