Need Advice for my friend - Loan Modification Forum

litehouse01 · 10-05-2009, 08:14 AM

I have a friend who wants to apply for the HAMP program and he asked me will it go against him because he has a consent judgement form one of his creditors on his credit report? Its not a lien but a work out agreement to pay. I said I don't know frankly...my own personal credit is shot I have a few charge offs and a bunch of missed payments because we are struggling paying and we quailified for HAMP....but I don't have the answer for consent judgement....to me if its a workout plan thats should be a positive but I really don't know anything about how that works.............any advice I can pass along would be appreciated......

Evan Bedard · 10-05-2009, 08:53 AM

Hi litehouse01,

Quote:

I have a friend who wants to apply for the HAMP program and he asked me will it go against him because he has a consent judgement form one of his creditors on his credit report? Its not a lien but a work out agreement to pay. I said I don't know frankly...my own personal credit is shot I have a few charge offs and a bunch of missed payments because we are struggling paying and we quailified for HAMP....but I don't have the answer for consent judgement....to me if its a workout plan thats should be a positive but I really don't know anything about how that works.............any advice I can pass along would be appreciated......

I'm not sure how this would affect him when appyling for the HAMP program. Many people have terrible credit and can still qualify for a modification..

daglo · 10-05-2009, 10:43 AM

We had to stop paying our creditors because we couldn't afford our mortgage and payments due to income loss. We still got our modification despite our recent poor credit history.

Evan Bedard · 10-05-2009, 10:57 AM

Thank you very much Daglo for sharing your information

10-05-2009, 08:14 AM	#1 (permalink)
litehouse01 Senior Member Join Date: Sep 2009 Posts: 492 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Need Advice for my friend I have a friend who wants to apply for the HAMP program and he asked me will it go against him because he has a consent judgement form one of his creditors on his credit report? Its not a lien but a work out agreement to pay. I said I don't know frankly...my own personal credit is shot I have a few charge offs and a bunch of missed payments because we are struggling paying and we quailified for HAMP....but I don't have the answer for consent judgement....to me if its a workout plan thats should be a positive but I really don't know anything about how that works.............any advice I can pass along would be appreciated......

10-05-2009, 10:43 AM	#3 (permalink)
daglo Senior Member Join Date: May 2009 Posts: 138 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Need Advice for my friend We had to stop paying our creditors because we couldn't afford our mortgage and payments due to income loss. We still got our modification despite our recent poor credit history.

10-05-2009, 10:57 AM	#4 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Need Advice for my friend Thank you very much Daglo for sharing your information __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

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