Latest Posts
Home > Ask The Get Out of Debt Experts > I’d Like to Buy a House But I Can’t Get Approved Because of Delinquent Student Loans. – Hope

I’d Like to Buy a House But I Can’t Get Approved Because of Delinquent Student Loans. – Hope

“Dear Steve,

I have had many delinquencies concerning student loans in the past.

At one point in time I thought I was in deferment but obviously I was incorrect.

So I show substantial deliquencies in 2006. I actually finished school in 2008 and loans were deferred until 6 months after I graduated. I started paying payments on regular monthly basis in 2009.

In 2010, I switched to an extended plan because I could not afford the monthly payment. Since then I have been current every month except 3 months in 2011. I was making a payment each month but it was less than the minimum monthly payment.

I was informed to day that they are still considered a late payment because I did not call and talk to a representative. After those 3 months I have made every payment in full and on time. Now that I would like to buy a house, I cannot get approved for a home loan because of this situation.

My highest credit score is 640 but lowest is 587. I realize that most of this is my fault for not being informed about the way student loans work and for my own stupitdity of not taking them as seriously as I should have. I am just trying to get everything back on track.

Is there anything I can do to remove deliquent payments of student loans from my credit report? I never defaulted on the loans so I am not eligible for “rehabilitation” for loans. What are my options?

Hope”

Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here

The Answer

Id Like to Buy a House But I Cant Get Approved Because of Delinquent Student Loans.   Hope

Dear Hope,

You did not mention if they were federal or private student loans. If they were federal loans and you made nine consecutive on-time payments it should have been removed from your credit report.

But your credit scores tell me there is something else going on that is bringing your score down. I’d suggest you take a look at The Get Out of Debt Guy Free and Easy Credit Repair Guide.

If you are not working with a local mortgage broker, you should. The mortgage broker will represent a number of different loan options and also advise you about what needs to be done to get your credit score back in range.

Please post your responses and follow-up messages to me on this in the comments section below.

Big Hug!

Id Like to Buy a House But I Cant Get Approved Because of Delinquent Student Loans.   Hope
Get Out of Debt Guy – Twitter, G+, Facebook

If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.

I'd Like to Buy a House But I Can't Get Approved Because of Delinquent Student Loans. - Hope by

Share This and Spread the Word

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.

Close

I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.


  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.