Posted on: 21st Feb, 2011 04:25 pm
In the state of Florida when a account is paid in full but has in dispute on a credit report will that stop you from being approved for an FHA loan.
FHA guidelines state that an account in dispute will automatically drop an approval to a manual underwrite - Many banks do not want to have this in a file they are selling so they add their own guidelines and just deny applicants that have accounts in dispute. The problem is they want the security of being able to fall back on an automated approval. If you have a dispute they lose that luxury.
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