Charge off's - FHA total score card accept (DU approval)
Updated: 04/09/2018
Article #: 80
You need to run findings, it isn't disputed so it will depend on whether you get an AUS approval or refer. Below if if you have an AUS approval
(1) Definition Charge Off Account refers to a Borrower’s loan or debt that has been written off by the creditor.
(2) Standard Charge Off Accounts do not need to be included in the Borrower’s liabilities or debt.
Original question:
Can you take a look at this credit report? My questions are:
1. Can he set up a payment arrangement on the large repo or can we use 5% of the balance as payment?
2. Can I disregard the charged off car note?
Thanks!
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