Hey all,
My hubby has defaulted school loans and we are looking to resolve them. The original amount was 12,000 and now it's with a collection agency through the DOE that has it at 16,000 with interest and fees. They have offered to settle for 11,800, but I am worried about whether I will qualify for an FHA after a settlement. I tried researching it and calling HUD, but they don't know either. If it is required to be paid in full through rehab, I don't want to waste the lump sum payment only to be denied because it was settled for less than was owed. Thanks!
