"Nasty Surprise" Obama's housing plan dupes Americans
Submitted by pil45 on Sat, 03/20/2010 - 07:55
http://finance.yahoo.com/news/Credit-scores-can-drop-after-a...
WASHINGTON (AP) -- Some homeowners who sign up for the government's mortgage assistance program are getting a nasty surprise: Lower credit scores.
For borrowers who are making their payments on time but are on the verge of default, the Obama administration's loan modification program can reduce their credit score as much as 100 points. That makes it harder to get a loan and can present a problem when applying for a new job.
Since when does your credit
Since when does your credit score ave anything to do with getting a job? I have been job hunting for 9 months now and have been to many seminars. When I have spoken with HR managers and recruiters, they all said they never check a person's credit score because it is Illegal and has no bearing on the ability of a person to perform their job.
And if they do check my credit score and don't hire me, so much the better. I don't have any kind of Gubermint modified loan anyway.
There is no Left or Right -- there is only freedom or tyranny. Everything else is an illusion, an obfuscation to keep you confused and silent as the world burns around you." - Philip Brennan
"Invest only in things that you can stand in front of and pr
Yes most employers use it
This is a sign to them as to how well you conduct yourself..Theoreticly, it make a statement as to how good an employee you will be..Well it doesn't allow too much for problems of life..Just another way around discrimination law.
I always have it checked.
Backgound checks besides credit stuff are very common now.
They do in Michigan
my friend's husband they looked into his credit score.
Prepare & Share the Message of Freedom through Positive-Peaceful-Activism.
I have little if any
sympathy for home owners who enter into this program, and think that their credit score should not be damaged.
The program should not exist to begin with. I know a few people who qualified for this entitlement program and they reduced their interest rates up to 5.5%. They freed up over 5-6 hundred dollars a month with a rate lock of 2% in the first 5 years.
This welfare program is just another tool to keep banks and lenders from exposing their shadow inventory of piss poor assets.
right!
This program should not even exist. The homeowners should loose those homes and they should be available on the market to someone who was more reponsible and is now in a position to buy. The housing market needs a good doucheing.
I'd rather have a bottle in front of me than a frontal lobotomy
www.tattoosbypaul.com
www.512clothing.com