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Loan Modification

: Mortgage Lender Implode-o-Meter

bill aims to eliminate loan mod credit score hit

By Implode-Explode Heavy Industries

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"Currently, even on-time modified mortgage payments are treated as ?delinquent? or ?incomplete? by the banks and lenders who extend the relief. As a result, homeowners who accept the terms of a loan modification may also see their credit scores plummet, making it difficult to obtain subsequent loans, credit cards, and even a job."

Full post as published by Mortgage Lender Implode-o-Meter on July 26, 2010 (boomark / email).

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