Here’s a quick guideline check for individuals that are currently in a Credit Counseling Program.
1. Must be in the plan for at LEAST 12 months
2. Must show history of payments for the 12 months, along with all creditors that are included
3. Must get permission from the counselor to enter into a new mortgage
In a way, this is much like a bankruptcy- and lenders view it as one! In my opinion, I would not enter a program such as this if it was not ABSOLUTELY NECESSARY.
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