Hello everyone,
So it's been over a year since I have been on here, I was busy cleaning up my credit and finishing Grad school, now i really want to start looking into buying a house since the last time I tried my credit held me back........So this is my situation,
first thing I cleaned up my credit pretty good and though I have a few new medical bills I've set up payment plans so they don't go on my credit. One of them went to collections because the hospital told me the account was under review since it was their fault for not getting authorization, anyway the day I called to check the status was the day they sent it to collections, I didn't bother to fight since I was fighting with them for over a year and now I'm just exhausted. I did call the collection company the same day and according to them as long as I stick to the payment plan the account will not be reported, its $3,596 so I'm going to make sure its paid up......(my question for this is, if they do go ahead and put it on my credit anyway, will that affect me if the account is paid off?)
Next thing I bought a car in my name last June for my aunt who has always been my rock, so saying no was very hard, her credit file was thin and the interest rate was going to kill her plus the payment was not affordable if she had bought it....she gives me the money every month and its debited from my checking account....now she just got pre- qualified for a loan and we have consulted with the bank to see if a loan transfer is possible and was told yes without any penalties....so we will start the process very soon.....(my question for this is, how will the car loan closing less than a year on my credit affect me getting approved for a mortgage?)
Lastly.....As I said earlier I just graduated grad school, so I have student loans, I called my servicer to get information on payment as so on, at this point my loans are in deferment until 03/01/2019 but i know that's only because the school have not updated my graduation information, you see I finished the two year program in 9 months so that's why the deferment is so far off.....the serviser's rep and I did an estimate and if i decide to use the income based payment option my monthly payment will be $0. I am aware of the 2% calculation that FHA uses in a case like mine but now my question is ( how can i avoid the 2% calculation since my monthly student loan payment is $0, Can I just pay a small payment per month through my checking account to establish a set payment?)
