Their construction business decimated, cars repossessed and mortgage in danger of default, Jason and Teresa Olive called for relief from their lender, Countrywide Financial. Countrywide referred them to its own “Hope” department. Six months later, after a call center runaround, Countrywide’s “Hope” had led to a dead end. The lender foreclosed on their home in June.
27
Jul
Although consumer understanding of credit scores has improved over the past year, it remains poor, according to the latest credit score survey commissioned by the Consumer Federation of America (CFA) and Washington Mutual Bank (WaMu). Less than one-third of Americans (31%), for example, understand that credit scores indicate risk of not repaying a loan, rather than factors like knowledge of, or …
27
Jul
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