Many homeowners that are either underwater or unable to pay their mortgage worry excessively about their credit score. In fact, many people worry more about their credit score than their financial well being in general. However, as Ken Harney explains in this article, loan modifications may actually INCREASE the credit scores of some homeowners. Read [...]
Archive of posts tagged Loan Modifications
Only A Small Fraction of Qualified Homeowners Have Had Their Loans Modified Under “HAMP”
Here’s a story from MSNBC about how only a small fraction of homeowners that are eligible for a loan modification under the HAMP program (Home Affordable Modification Program) have actually had their loans successfully modified. The article leaves out the reason, but it’s pretty obvious that a lack of loss mitigation manpower, plus the fact [...]
