You pay your bills on time and never miss a payment. If you’re still having trouble with credit, something on your credit report could be scaring lenders. Different lenders zero in on different credit report items. So it’s entirely possible that, even for the same loan, no two lenders will see your credit history in exactly the same light. Here’s one item that could scare lenders:
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Homeowners Shun Mortgage Relief Agencies
Homeowners who fall behind on their mortgage payments are more likely to seek help from loved ones than from mortgage relief agencies, according to a recent survey by Money Management International. Half of homeowners surveyed say they would first seek help from family and friends before talking with their lender (26%) or seeking assistance from a housing counseling agency or mortgage relief program (13%). More than half (53%) say they are concerned about possible scams and fraudulent practices by mortgage assistance agencies, that the services they offer would cost more money than they could afford (51%) and that the process would be confusing or they would choose a solution they don’t fully understand (45%).