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October 28, 2007


Bad credit mortgage

Credit repair law or laws relating to consumer’s writes regarding their credit histories are about as difficult to read as most law. Some agencies attempt to put the law into laymen’s terms, in order to help consumers that are attempting to legally repair credit problems.

The FCRA was designed to protect lenders as well as consumers. In order to protect lenders from excessive costs relating to attempts to collect past due or delinquent accounts, the current bad credit mortgage scoring system was put into place. This scoring system attempts to identify those consumers who will repay loans in a timely manner. Many feel that the entire system is flawed, but it is currently the only one that we have.

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