Applying for the HAMP Program? Your credit may be at risk
Mar 23rd, 2010 by The Cilks
Homeowners interested in the government’s Making Home Affordable program could see their credit score drop by up to 100 points - simply by applying for the program. The rationale is that homeowners would not be applying to participate unless they were already experiencing financial difficulties. The drop in credit rating could sting further when the homeowner applies for a job or for a loan to purchase a vehicle.
Be informed. Before taking drastic measures, be sure to consult with your experienced real estate agents, your accountant as well as your attorney.
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