Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Connecticut Housing Finance Authority (CHFA) Changes Collection Payoff Policy
The Connecticut Housing Finance Authority (CHFA) Changes Collection Payoff Policy.  CHFA has always had a strict policy when it comes to judgments and collections, so it was a surprise to me to see them changing their policy on the payoff of collections.
Effective today, March 4, 2011, all loans being registered with CHFA will not be require show proof that outstanding collections under $1,500 have been paid off.  For example: 
A single outstanding collection account with a balance less than $1,500.00 do not have to be paid off in order to be eligible for financing. A single outstanding collection account with a balance equal to or greater than $1,500.00 must be paid in full to be eligible for financing. Multiple outstanding collection accounts with a total of $1,500.00 or more will need to be paid until the total amount of the collection is less than $1,500.00 But Multiple outstanding collection accounts that do not total $1,500.00 or do not have to be paid. CHFA will continue to require outstanding judgments to be paid in full without exception. CHFA is a loan program designed for First Time Homebuyers, and is one of the few loan programs in Connecticut that a homebuyer can still purchase a home with 100% financing.  CHFA ... more

__________________________________________________
Are you on The Rain? Grow Your Network!