My Credit Plan BlogLatest News and Updateshttps://mycreditplan.org/BlogThe VantageScore® Creates a Major "False" Consumer Crisishttps://mycreditplan.org/Blog/PostId/53/the-vantage-score-creates-a-major-false-consumer-crisisCoronavirusFri, 22 May 2020 21:40:00 GMT<p>When you cry “Fire”, you expect there is a fire. When you cry “Wolf”, you expect a predator is coming. The VantageScore created a major crisis this week that reached all the way to the White House. Unfortunately, there was no crisis, no fire, no wolf. It was all about nothing.<br />   <br /> This is a big one. Congratulations Vantage Score, you got millions of consumers excited and upset all about nothing. Nothing!</p> <p>Great Lakes is a student loan lender based in Minnesota. The company was just following the federal government's directive to allow students to skip on their student loan payments. The company reported such loans as "Deferred" to the credit bureaus. That is a common practice. What happened next is just plain wrong.</p> <p>The Vantage Score is a model that tries to provide a consumer credit score. It is different than the lender's FIOC credit scores. The Vantage Score declines whenever someone defers a payment on a loan. The FICO score does not. </p> <p>Consumers who have been following the Vantage Score saw their number decline from the reported deferred student loan payments without realizing that Vantage Score meant nothing to their loan approvals with their lenders. Nothing! A lot of consumers were mad at Great Lakes for reporting such information to their credit report without realizing this disconnection. </p> <p>There is no emergency. There is no problem with your lender's FICO scores from having Great Lakes report a deferred student loan payment. </p> <p>As a result of the lack of transparency, the Vantage Score created a crisis, when there was none.</p> <p>This issue simply shows it is imperative that consumers follow their lenders FICO Scores, given here with My Credit Plan. </p> 53Why Skipping Your Mortgage Payments can Drop Your FICO® Scoreshttps://mycreditplan.org/Blog/PostId/49/why-skipping-your-mortgage-payments-can-drop-your-fico-scoresCoronavirusThu, 30 Apr 2020 22:57:00 GMT<p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">Too many “uninformed” loan officers have told thousands of homeowners and media that skipping your mortgage payment (from the coronavirus) will not impact your credit. The only basis for this statement comes from a few politicians and some loan officers who have said that since lenders will not report 30-day or more late payments to the credit bureaus, skipping payments will not lower your scores. They have little understanding about FICO® Scores and no authority to speak for lenders. </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">In his report, KUTV’s Michael Locklear (CBS - Salt Lake City, Utah) identifies the potential dangers from skipping your mortgage payments.</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"> </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"><b><span style="font-size:14pt"><span style="line-height:19.97333335876465px">Derogatory Account</span></span></b></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"> </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">There is a credit term to recognize, “The loan has not been paid according to the original terms of the loan agreement or ‘Note’.” This is the definition of a derogatory account. Any derogatory account in your credit report will lower your FICO scores for seven years.</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">One may think a derogatory account refers only to late payments. It does not. It refers to any loan repayment that is less than the full balance<b><i><u>. It can also refer to any modification or adjustment to a loan agreement initiated by the borrower which results in reduced or skipped payments for any period-of-time. </u></i></b></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">Make payments on time and then pay the remaining balance less than the full balance. That is defined as a derogatory account. Modify a loan agreement to move a payment to the end of the loan. That is defined as a derogatory account. Any change to the original  loan agreement can trigger the mortgage as a derogatory account. <b><i>There is no clear written guideline.</i></b><b><i>It is really up to the lenders to decide if an account is classified a derogatory account </i></b>-- and then the lenders report that to the three major credit bureaus.</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">There is one exception – student loans.  Student loans have options to defer or skip loan payments without impacting your FICO scores. Mortgages have no such loan-payment deferment or arrangement in the “Mortgage Note”.</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"><b><span style="font-size:14pt"><span style="line-height:19.97333335876465px"> </span></span></b></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"><b><span style="font-size:14pt"><span style="line-height:19.97333335876465px">Skipping a Mortgage Payment</span></span></b></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"> </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">For this reason, skipping a mortgage payment gives the lender the option to classify the loan as, “…not being paid according to the original terms of the loan agreement.” The mortgage lender does not need to report any late payments. It simply reports to the credit bureaus that the loan has not been repaid according to the original terms of the loan agreement. </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"> </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">There is a term your lender sends to the credit bureaus every month with your account information. It states </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"><b><i></i></b></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"><b><i>“Yes”</i></b>or <b><i>“No” </i></b></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">if your account is a derogatory account. This definition is separate from your account payment history when your account information is sent to the credit bureaus. “No” and your should be fine. “Yes” and the drop to your FICO scores is immediate. </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"> </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"><b><span style="font-size:14pt"><span style="line-height:19.97333335876465px">Can You Find Out from Your Lender?</span></span></b></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"> </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">Unfortunately, if you contact a mortgage lender call center and talk to a customer service representative, most customer service agents are not aware of this detailed issue. Most of them. They will tell you that they will not report a late payment – thinking that is the only issue that can negatively lower your FICO scores. </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">It is not the late payment that is the issue. It is the change in terms which triggers the account to be a derogatory account which can drop your FICO scores 40, 50 and even more points.</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"><span style="font-size:12pt"><span style="line-height:17.1200008392334px">KUTV reporter Michael Locklear offers more insight in his report.</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"><span style="font-size:12pt"><span style="line-height:17.1200008392334px"><a href="https://kutv.com/news/local/hidden-consequences-of-deferring-your-mortgage-payment" style="color:#954f72; text-decoration:underline">https://kutv.com/news/local/hidden-consequences-of-deferring-your-mortgage-payment</a></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"> </span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">If you can make your mortgage payment, you will most likely be better off. Skip your mortgage payment even one month and you could face a downgrade to your FICO scores for many years.</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none"></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> <p style="margin:0in 0in 8pt; text-align:start; -webkit-text-stroke-width:0px"><span style="font-size:11pt"><span style="line-height:15.693333625793457px"><span style="font-family:Calibri, sans-serif"><span style="caret-color:#000000"><span style="color:#000000"><span style="font-style:normal"><span style="font-variant-caps:normal"><span style="font-weight:normal"><span style="letter-spacing:normal"><span style="orphans:auto"><span style="text-transform:none"><span style="white-space:normal"><span style="widows:auto"><span style="word-spacing:0px"><span style="-webkit-text-size-adjust:auto"><span style="text-decoration:none">Following this BAD INFORMATION has the potential to cost thousands of consumers a lot of money.</span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></span></p> 49