I take it you went to a Broker and he has submitted your loan into underwriting with his lender? Every State has a statue of limitations and most lenders can or will overlook something that old unless it could end up affecting the title of the property. There are several remedies, a good Loan Officer would tell you exactly what to do in the event there is a collection(s) showing on your credit report. Something that old shouldn't be a deal killer.
Mortgage Broker Or Lender, Louisville, KY
Based on the other questions you have asked I would guess it isnâ€™t what happened 6 years ago, rather a pattern over the past 6 years that is causing the problem. Every prospect I speak with that doesnâ€™t qualify will focus on one item, which is not how underwriters must review an application. They must look at the entire application. Look internally at what is causing the problems and change the pattern, good luck,
Your credit history from 6 years ago has nothing to do with qualifying for an FHA loan today. You didn't say what they are doing. Are they just reviewing or are they denying you? There must be another reason for whatever it is and you should find out what that is prior to seeking other financing.