Government Help= Lower Credit Score

From the article:

"For delinquent borrowers, the damage was done when they fell behind on their loans. But for homeowners who are having financial troubles but managing to pay their bills, a request for a loan modification is the first sign of difficulty. And that means a sharp drop in the borrower's credit score."

Unfortunately it does make sense. Without the help, the repercussions would have been much farther reaching. I say the upside is, those homeowners who can turn things around, will see their credit scores restored to where they were relatively quickly.

"The Obama administration acknowledges that enrolling in the program can hurt credit scores."

This part was likely left on the cutting room floor during editing!

LOL Thats the point here. I'm pretty sure even if this is in the contract( in the tiny print, which I doubt) no one mentioned it to the applicants. Sounds to me just like the government was demonizing mortgage comapanies and realtors for doing when people got into this mess in the first place

Sounds to me just like the government was demonizing mortgage comapanies and realtors for doing when people got into this mess in the first place

Just like how they will demonize Dr's and Drug stores who stop taking new Medicaid patients if/when ObamaCare is shoved down the throats of the US.

Linkable

http://finance.yahoo.com/news/Credit-scores-can-drop-after-apf-1601705094.html?x=0

Thanks anon, How do you do that. I can never get it to work. LOL

Yes grly count on it.They demonize conservatives and then cry when it is dished back at them.If they are going to persist then don't cry when it's thrown back at ya.