I was brought to the brink by a rapid fire of bad circumstances, had to sell my house in a Short Sale. E*TRADE PNC/ CLC took my last 7.5K from me at closing to release a lien and then the next week charged off the balance. Was 150 late on my mortgage when the closing finally happened. Was Current With E*Trade. Would have worked out something with E*TRADE had I known that they would do that. My credit score was 805 the day we started the SS (3/2009) and a month after closing (11/2010) it was 538. Today its about 620, still have a CO on my reports. Took the adivise of many of you a sought out a small Credit Union to see if I open an a savings and checking account because my "big bank" that we have been with for 6 years won't help us with anything going forward. Told us so. We still have our primary home with about 80K of equity in it even in this market. A small local credit union that caters to my company set me up with a saving and checking account. They said that after 6 months come in and see them. They will be able to help me do a Refi on my primary which is an ARM. They also do personal loans if I want to consolidate some old CC bills from when my wife was sick. They would require that I have any loan payments be paid via direct withdrawal - Thats OK with me if I'm going to pay them anyway.
So the "small local credit union of town bank" theory just might be true.