Statute of limitations on old debt: Do I have to pay it back to get a mortgage?
Posted by Florida Realty Marketplace on
Is there old debt lurking in your financial closet?
Before you apply for a home loan in Davenport FL, it's a good idea to get a copy of your credit reports. Suppose your report includes some old debt from years ago. And suppose that's timed out as a result of your state's statute of limitations on debts.
Don't "reactivate" an old collection when you apply for a mortgage
What you do next could have a huge impact on your ability to get your mortgage application approved. And it could affect your financial well-being for years to come. So read on to make sure you know how to protect your interests.
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How to get a copy of your credit reports
Under federal law, you are entitled to a free copy of each of your…
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