CCCS vs bankruptcy funny

Discussion in 'Credit Talk' started by mark, Mar 8, 2003.

  1. mark

    mark Well-Known Member

    saw this when doing some home mortgage searching tonight. Im sure most folks are aware of this, but I can't recall a mortgage co actually spelling it out like this before.

    http://www.texaslending.com/FAQ.asp

    "Q: What if I am in CCCS?
    A: Most mortgage lenders consider CCCS the same as a Chapter 13 bankruptcy. If in CCCS for 12 months you may qualify for 3% down at single digit interest rates. Otherwise, you will have to cancel or complete the CCCS to qualify for conventional loan programs."
     

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