Caution: That Loan Modification Can Hurt Your Credit


A homeowner was dumbfounded to discover that his near-perfect credit score of 750 fell more than 100 points after joining a trial mortgage assistance program. And it happened despite never having fallen behind in his mortgage and even though he made the trial's payments on time. It's a dilemma facing many homeowners seeking loan modifications, says CNNMoney. In this case it happened to a Chicago-area municipal employee who simply sought assistance after his work hours