Mortgage Relief OK For Credit Rating

Though millions of Americans have their fingers crossed for federal assistance when it comes to making their mortgage payments during these times of financial hardship, many have questions about the impact in the long run of such aid. One big question is this: will using the Obama Administration’s program hurt my credit score?

In a word, no. Since refinancing is really just rewriting a mortgage agreement, it doesn’t usually affect a homeowner’s credit score. (more…)