How has your credit been effected?

[Questions]

Hi all. Can everyone respond and let me know how your credit has been effected during your journey?

I am thinking about entering into a forbearance for my 2nd mortgage but afraid of what all of the late mortgage payments are going to do to my credit. I have not been late on any of my other credit but I am at the point where my 1st mortgage will be late and my 2nd has already been late x30 days once. I'm in the process of working on a modification for my 1st with NACA and I'm confident they will get a good mod for me and I know having the hits on my credit are really a small price to pay but still, I have just been stressing over it quite a bit.

If you can list how many days late you have been or are on your mortgage and how much your score has fallen (if at all).

I really appreciate any and all responses!!!

[Questions]

Oops, forgot to ask about forbearance as well.

If any of you have accepted a forbearance agreement while 30 days late, how has it effected your credit.

Again, thanks sooo much for any and all responses!

[whirlingbirdie]

They wouldn't approve a mod for me when I was current. 90 days behind now and counting. My credit is in the TOLIET!

[caldwellb02]

I am not even looking at my credit report. Can't bring myself to do it.

[pdsfoley]

Originally Posted by caldwellb02

I am not even looking at my credit report. Can't bring myself to do it.

Me either.........but at this point...theres nothing I can do to change it...so why bother looking...I'll just get MORE depressed!!!!

[missnell]

We are now 120 days behind, and waiting on a short sale. Our credit has obviously been negatively affected, because we received a letter from one credit card company stating "upon review of your recent credit activities, your credit line will be lowered from $2500 to $100. How's that for a thank you, we were never late with them.

[Riley18]

My credit is ruined, but I haven't checked the actual score for a few months. Lately I've been thinking of working with a HUD agency to consolidate the credit card debt and pay it off over 5 years. That hurts the score for a time, and all credit has to be cancelled. I think it is a little better in the long run than bankruptcy, but not sure.

Has anyone paid their cards off this way? Also, at first people here were saying to stop paying the cards until the modification was completed. Now I'm seeing where banks are not modifying because of excessive credit card payments due even when we don't pay them. I am really not sure what to do.

As for the forbearance payment, it is my understanding that there are no late fees assessed due to the agreement. This makes it a better idea than not paying anything...that is if it is possible to arrange it and afford it. Not sure if it helps speed up the mod process as much as stopping all payments though.