Comments on: Mortgage Loan Modification Will Damage FICO Scores http://www.creditscorequick.com/blog/2009/09/07/mortgage-loan-modification-will-damage-fico-scores/ Keep Up to Date with the latest Credit News Mon, 08 Aug 2011 18:31:29 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: carmela75 http://www.creditscorequick.com/blog/2009/09/07/mortgage-loan-modification-will-damage-fico-scores/comment-page-1/#comment-240 carmela75 Wed, 14 Oct 2009 15:44:46 +0000 http://www.creditscorequick.com/blog/?p=498#comment-240 I was laid off in June 2009 and I was always current on my mortgage. I applied for the Making Home Affordable program and was approved. I am currently on my 3rd month trial period but within 2 weeks of my first trial payment, my lender, Wells Fargo, reported me with a derogatory remark as Pays as agreed, paying partial amount per agreement. As a result my score went for 756 to 620. I have never missed a payment on my mortgage nor on my credit card. As a result of my fico score my credit cards slashed my credit lines to the amount I currently owe and my apr from 9 to 27 percent. I also am applying for work in my field as a Business Analyst and now am afraid that my credit score could be a factor as to why I am not getting hired. I thought the program was to help the economic recovery, not hurt it. I was laid off in June 2009 and I was always current on my mortgage. I applied for the Making Home Affordable program and was approved. I am currently on my 3rd month trial period but within 2 weeks of my first trial payment, my lender, Wells Fargo, reported me with a derogatory remark as Pays as agreed, paying partial amount per agreement. As a result my score went for 756 to 620. I have never missed a payment on my mortgage nor on my credit card. As a result of my fico score my credit cards slashed my credit lines to the amount I currently owe and my apr from 9 to 27 percent. I also am applying for work in my field as a Business Analyst and now am afraid that my credit score could be a factor as to why I am not getting hired. I thought the program was to help the economic recovery, not hurt it.

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