Another benefit to going with an FHA loan is the higher loan limit, which is as high as $729,750. This can be a real lifesaver for those living in high-cost regions of the country (this limit has since dropped to $625,500 as of 2014).
How long it stays on your credit report: CCJs stay off your credit report if you pay your debt in full within 30 days of receiving the order.Otherwise, it will stay on your credit report for six years from the day of judgment, regardless of payment.ow long it stays on your credit report: Although a DRO typically lasts a year, it will stay on your credit report for six years from the date the arrangement starts. Defaulted debt.
If you are unable to pay the loan installments, the finance company will repossess your vehicle or house and this will have a great negative impact on your credit score because a repossession stays on your credit record for 7 years.his is why it is important to keep in mind that how long does a repossession stay on your credit, before you plan to buy a house or a vehicle. The wise thing to do is to go for something that costs lesser than what you can afford at that time.