consumer credit counseling services: Does Participating In Consumer Credit Counseling Disqualify A Borrower For A Mortgage?
- 01/29/13 08:07 PM
I often am asked Does Participating In Consumer Credit Counseling Disqualify A Borrower For A Mortgage? The answer is NO, just participating in Consumer Credit Counseling does not disqualify a borrower for a mortgage. FHA is very clear about this, but Fannie Mae is not, in fact I could not find anything in the Fannie Mae Guidelines addressing Consumer Credit Counseling. The problem with using the services of a Consumer Credit Counseling Service is that they many time will not make payments to Creditors on time so that they can leverage their position in trying to get the Creditor to accept … (8 comments)
I often am asked Does Participating In Consumer Credit Counseling Disqualify A Borrower For A Mortgage? The answer is NO, just participating in Consumer Credit Counseling does not disqualify a borrower for a mortgage. FHA is very clear about this, but Fannie Mae is not, in fact I could not find anything in the Fannie Mae Guidelines addressing Consumer Credit Counseling.
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