How to keep credit card reform from blocking your mortgage

Some experts believe an unintended consequence of credit card reform in the Credit Card Accountability Responsibility and Disclosure (CARD) Act may be to actually make it more difficult for a potential homeowner to get a mortgage loan.

Heavy Hammer, Inc. is an "online networking and consulting company" that specializes in connecting homeowners with various experts. CEO Michael Urbanski, on the company's Web site, says, "As well intended as the CARD Act may have been, it is proving to be yet another nail in the coffin for the housing industry. When an interest payment increases from eight to 16 percent, the minimum monthly payment is effectively doubled for the card holder with devastating consequences for future mortgage eligibility."