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Do I have to payy off any outstanding collection accounts before I can receive an FHA loan?

April 26, 2017accounts collection FHA loan

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Do I have to payy off any outstanding collection accounts before I can receive an FHA loan?

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In almost all cases, any judgements against you or outstanding collection accounts must be taked care of before you are allowed to receive an FHA loan. Speak to a a professional in the mortgage industry about getting pre-qualified before you begin paying off any outstanding debts as there is a chance you may still qualify.