Asked by Charlotte, Maryland • Wed Apr 23, 2008
I'm interested in getting a FHA home loan. I had a string of late payments on one credit card from February 07 to July 07. July 07 was my last late payment so July 08 will mean one year clean. I've had steady employment for four years and a 10% down payment.
Unfortunately, I don't have a great explanation for the lates. I was paying on the credit cards each month with no problems until I was told I wasn't paying enough and they'd put me on a payment plan to be brought up to current. Each month I paid on the payment plan they reported it as a 30 day late.
Is it at all possible for me to be FHA approved?
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