Guidelines for KY FHA, VA, USDA and VA Mortgage loans with Student Loans on A Credit Report:

Guidelines for KY FHA, VA, USDA and VA Mortgage loans with Student Loans on A Credit Report:

Louisville Kentucky Mortgage Loans

Student Loans In Collections, What Can I Do?

If you have public student loans in collections, you really have three options to resolve it so it is not a CAIVRS issue. 1.      Pay it off in full – Not typically an option because very rarely do the clients have the funds to do so. 2.      Consolidation – Only takes about 90 days to consolidate and resolve CAIVRS issues. However, you push forward the last activity dates, DLA, and also introduce a new credit trade line that dilutes the length of the credit history. So you will normally see a drop in credit score. 3.      Rehabilitation – It is the slowest of all the options, but is the best thing for the clients’ credit scores. It is a 9 month commitment and once the client makes 9 consecutive payments, they will change the collection status to a good standing status. This will…

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