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Defaulted student loans not showing up on credit report

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I'm starting the process to rebuild my credit in order to try and get a mortgage. I recently pulled my reports from creditreport.com and my defaulted student loans are not showing up. They have been in default for about twenty years and haven't made a payment in about 10 years.

 

When I apply for a mortgage will they show up or should I start the rehab process before I apply?

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Based upon the limited information we may safely assume the statute of limitation for credit reporting has long since passed; however, if they're a federal student loan debt there is no statute of limitation on collecting this debt. I would speak to a mortgage broker on this matter.

 

Have you ever had Administrative Wage Garniahment, Tax Off set, Judgement, or any other type of collection effort against you?

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Yes I have had garnishment(about 8 years ago) and tax offset(3 years ago-no refund since then). I know the debt will never go away but since the loans are not showing upon my CR and since I looking to get an a mortgage soon I don't necessarily do not want do open up that can of worms( amount of debt on my CR) just yet if it affects my chances for a mortgage before I apply and before I start the rehab process.

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If your thinking about FHA, USDA, VA or any other govt. program, you will have to resolve the loans first (assuming these are Federal loans.) they check a different system so it won't help that they're off your credit report.

 

I don't know about the impact on Conventional loans.

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http://creditboards.com/forums/index.php?showtopic=144468

 

If you are attempting to obtain any Federally backed Mortgage, FHA/VA/USDA, a defaulted Federally Guaranteed Student Loan will automatically disqualify you. There is no statute of limitations on defaulted student loans. This is true no matter what type of Federally Guaranteed Student Loan you have. When a government backed/guaranteed loan of any type goes into default, it is listed in CAIVRS until the loan is satisfied. All FHA/VA/USDA mortgage applications check CAIVRS for defaulted loans. It does not matter whether the defaulted loan is listed on a credit report or not. It will be in CAIVRS.

 

CAIVRS stands for: Credit Alert Interactive Voice Response System and is accessed on HUD's website. CAIVRS is for professionals only. CAIVRS was developed by the Department of Housing and Urban Development in June 1987 as a shared database of defaulted Federal debtors, and enables processors of applications for Federal credit benefit to identify individuals who are in default or have had claims paid on direct or guaranteed Federal loans, or are delinquent or other debts owed to Federal agencies.

Edited by Freedom Soon

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Thank you Freedom Soon for providing this information to the OP - OP I hope this guidance above will assist you in making the decision for home ownership. Based upon the guidance, I would recommend that you contact the U.S. Department of Education and start on a reasonable and affordable repayment plan.

 

Good Luck to you!

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Oh wow

 

http://creditboards.com/forums/index.php?showtopic=144468

If you are attempting to obtain any Federally backed Mortgage, FHA/VA/USDA, a defaulted Federally Guaranteed Student Loan will automatically disqualify you. There is no statute of limitations on defaulted student loans. This is true no matter what type of Federally Guaranteed Student Loan you have. When a government backed/guaranteed loan of any type goes into default, it is listed in CAIVRS until the loan is satisfied. All FHA/VA/USDA mortgage applications check CAIVRS for defaulted loans. It does not matter whether the defaulted loan is listed on a credit report or not. It will be in CAIVRS.

CAIVRS stands for: Credit Alert Interactive Voice Response System and is accessed on HUD's website. CAIVRS is for professionals only. CAIVRS was developed by the Department of Housing and Urban Development in June 1987 as a shared database of defaulted Federal debtors, and enables processors of applications for Federal credit benefit to identify individuals who are in default or have had claims paid on direct or guaranteed Federal loans, or are delinquent or other debts owed to Federal agencies.

I rehabbed all of my defaulted student loans I plan on doing a VA guaranteed home loan within the next year. Will this hurt me?

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Since you completed rehab, you should be fine in that regard. I think it takes about 90 days to clear.

 

Once you've completed rehab, you are no longer in default.

Edited by Freedom Soon

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Question: do CONVENTIONAL mortgage lenders look at this? If old defaulted student loans fell off credit reports years ago, and you are going for a conventional loan, does that disqualify you? Does a defaulted student loan show up on a “Fraud Check” report? 

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16 hours ago, wwanderer said:

Question: do CONVENTIONAL mortgage lenders look at this? If old defaulted student loans fell off credit reports years ago, and you are going for a conventional loan, does that disqualify you? Does a defaulted student loan show up on a “Fraud Check” report? 

They will have to be disclosed on the 1003 or you are at risk of perjury charges if anyone elected to pursue them...and yes, there ARE people serving various sentences for lying on the applications.

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