Making Home Affordable Will Hurt Your Credit.
But it will save your home. The government program mentioned above is a way to lower your mortgage payments if they are becoming a burden to your budget.
However there is a catch, as with anything that is supposed to help you. The catch is that the credit companies will lower your credit score up to 100 points for using the government program.
By asking for help and wanting to continue being a good customer, you will be penalized by up to 100 points from your score, for trying to do the right thing. You see, just by getting the help, the credit companies are saying that you have credit trouble and SLASH/ 100 Points Gone!
That is America Folks! The only place where trying to do the right thing so you don’t have or become a problem, gets you labeled as trouble just for trying to do things right! Your Damned if You Do and Your Damned if You Don’t.
What a shame.
Experian, Equifax and TransUnion. Watch those companies in the future folks, as their Inflexible thinking will slowly become the demise of Millions of suffering people and then the demise of a Nation.