So my husband and I tried getting a USDA mortgage loan (0 down) a few months ago, but got rejected due to our debt to income ratio. His credit card debt will fall off in the next few months because of the 7 year mark, however mine will not. One of the debt collectors recently mailed me a letter saying I can pay 60% of what is owed from a $1,500 bill. I have read that paying off old debt won't necessarily raise my credit, but should I pay it off to make my debt to income ratio better? Will this make the difference for us getting a loan?
Submitted April 23, 2017 at 11:45AM by alienfingers http://ift.tt/2q438fI
