Foreclosure Faq
Will this disqualify me from the TSA credit check?
I like many people fell in the housing fiasco that hit this country. On my house i had a second mortgage with a balance of about 12,000. After the house foreclosed the second was sold to collection agency. Please if someone can refer to the TSA faq found here
https://tsa.vitapowered.com/TSOFAQs/BackgroundRequirements.pdf
and help me answer the question. Does first
A) the fact i had a foreclosure immediately disqualify me?
B) does the fact that the second mortgage on my house went to a collection agency potentially disqualify me?
C) is the entire 12,000 considered “bad” or is only the 1200ish showing as “delinquent” on my credit check count as bad?
please an accurate answer i would appreciate. not a “sounds like” anyone who actually knows would be most helpful, its the only thing weighing very heavily on my mind.
You are disqualified.
a. The foreclosure disqualifies you under item 1.(5)
b. Your collection agency action disqualifies you under 1.(1) and 1.(2) as the debts have been charged off as a loss and sent to a collection agency for action. When a debt is sent to a collection agency, the creditor has most of that debt is charged off as a loss.
c. A delinquent debt is a bad debt. So, by the link you provided, you are also disqualified.
Foreclosure Prevention Counseling Washington State – FAQ
