obtaining a home mortgage.

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Posted by Crash22 on September 27, 1998 at 17:22:04:

My wife and I have a credit nightmare. We are currently in the market to buy a house. My wife has excellent credit but she has no income as she stays home and raises our daughter. I make the money but my credit is not good. The only thing wrong with it is an unpaid collection from a car repo from 1995. Since then I have had another car loan and now have an unsecured credit card with a 2500 dollar limit. The mortgage lender will not give me a loan until the collection is paid off and we can't put it in my wife's name because she doesn't work. I don't have the money to pay the collection agent. Is there any way that I could obtain a mortgage and is this cross-collecting that the mortgage company is doing for the collection agency legal? Any advice would help?

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Negotiate unpaid collections Christine Baker 16:58:55 10/02/98 (0)

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: My wife and I have a credit nightmare.  We are currently in the market to buy a house.  My wife has excellent credit but she has no income as she stays home and raises our daughter.  I make the money but my credit is not good.  The only thing wrong with it is an unpaid collection from a car repo from 1995.  Since then I have had another car loan and now have an unsecured credit card with a 2500 dollar limit.  The mortgage lender will not give me a loan until the collection is paid off and we can't put it in my wife's name because she doesn't work.  I don't have the money to pay the collection agent.  Is there any way that I could obtain a mortgage and is this cross-collecting that the mortgage company is doing for the collection agency legal?  Any advice would help?


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