Good Morning!
I covered this about 2 years ago, but I wanted to touch it again now for you.
I have customers call me every day – worried that their Medical Collections will keep them from getting a loan.
From a mortgage underwriting perspective – if you have Medical Collections that are over 12 months old – they will be ignored for the most part by the government insured loan programs. …such as VA and FHA.
Fannie Mae and Freddie Mac underwriters will pretty much stick with what the automated findings come back with… …and, I can tell you that the automated system will generally ignore these older collections.
So, if you have Medical Collections… Don’t fret! …Generally they won’t keep you from getting a mortgage!
…by the way – if you feel the emails that I send you have provide value… …please forward them to your friends so that they may also subscribe to them. Thank you!
Have a good day today! …and thanks for reading.
Brett
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