sunrize9
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 27 Sep 2011
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| Credit repair advice needed |
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I am currently a graduate student, and I work full-time, but I need to take additional loans to finance my education. The problem is that I have a foreclosure on my record which disqualifies me from receiving a GradPLUS Loan.
My issue is that 5 years ago, I agreed to help a relative secure a property by signing the mortgage papers. This relative worked in Countrywide Financial at the time - I was a college student. My understanding is that he could not qualify for a loan on this property because he already had a house that he was paying the mortgage for, so I would be "lending" him my credit and he would make the payments to Countrywide. It should come as no surprise then that this relative screwed me over by failing to make the payments (and got fired from Countrywide), and now I have a foreclosure on my record which looks really bad.
Other than this instance, I have a history of responsible debt. I make regular payments toward my undergraduate student loan and credit cards, and my car is paid off.
What (if anything) can I do to get this foreclosure removed from my account? I have read about the option of waiting it out, but I don't want to put certain life plans (government job) on hold for 2 years unless I have no other choice.
Any sincere advice would be appreciated.
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