USDA Loans and Credit Counseling
Date: Mon, 11/05/2012 - 09:37
There is no way to get that DMP delisted from your credit, eithe
There is no way to get that DMP delisted from your credit, either that or you have to wait 7 years to buy the house. On the other hand, you can see if the mortgage lender will agree to lend if you offer him a larger down payment.
Quote:either that or you have to wait 7 years to buy the house
Quote:
either that or you have to wait 7 years to buy the house |
Why on earth would he have to wait 7 years?? Please learn your facts before posting.
I debt management plan will tank your scores. Complete the plan and become debt free and mortgage lenders will then start looking at you.
Right now you probably wont get a mortgage loan from anyone because you are a high risk. You are not paying your debts as originally agreed and their is the risk that one of these creditors will sue you, even while in a debt management program. It happens frequently. You need to get your debt under control and paid off before you even think of purchasing a home. It may sound harsh, but that is the reality of this economy.
Sorry. My bad. What was I thinking! :confused: DMPs disappear f
Sorry. My bad. What was I thinking! :confused:
DMPs disappear from your credit report as soon as the program is successfully completed although the information might take up to 120 days to be reflected in reports from all the 3 major CRAs.