For most of my life, I could afford to use my credit for shopping, cars, and trips. I had finally reached the point where I was saving up for a downpayment on a new house. Unfortunately, there was economic downturn and as a result, I lost my job. I had an emergency fund, but after that was gone, I dipped into my house fund and eventually burned through my savings. Soon after, I found myself buried in debt that I couldn't pay off. Then the phone calls started and I was constantly getting bombarded from debt collectors from unpaid credit card bills and I lost the ability to borrow or any line of credit from a bank. I was on the verge of losing everything I had worked so hard to get.

So, when confiding in some of my buddies about my financial situation, I was surprised to learn about Lexington Law. One of my friends promised they'd be able to help me take control of my financial issues, and get my life back in order, but I was pretty skeptical. He told me their team of lawyers uses legal strategies to challenge creditors about items on your report which helps improve your credit score. With nowhere else to turn, I decided to check them out.

I learned that they are a leading credit repair law firm that systematically uses the law to help eliminate negative entries on credit reports, and they have a method to help drive up credit scores. This all sounded great, but I was still a bit skeptical about how they could help me take control of my finances. After learning that Lexington Law removes an average of 10 items off your credit report in the first 4 months , and has a credit-coaching program teaching clients how to improve and maintain a higher credit score, I decided to give them a try.

Getting started was simple. I gave them a call and the representative answered my questions with patience and knowledge. She made me feel confident about improving my credit score, and explained that Lexington Law would send challenge letters requiring creditors to respond or refute. If they're unable to make a case, the items will be removed from my credit report.

After the first three months, seven items were removed from my credit score. During this time, communicating with my representative was easy with access to my personal online dashboard. The dashboard allowed me to see my credit score from all three bureaus along with the positive and negative items impacting my credit. The best part was that I could even challenge items on my report directly from the dashboard. Each time I made a challenge, my representative would get an alert, and she and her team would begin working on them right away. Watching the items get removed from my credit report made me feel like I was taking control of my finance.

For many people, their credit score does not accurately describe what kind of person they are. Despite being a conservative spender, I have faced many years of financial distress. I'm glad I decided to learn more about Lexington Law and was able to turn around my score. Working with them for even a short period of time, they helped me get rid of the big blemishes on my credit report. My goal this year is to make the next big purchase in my life (buying a house), and Lexington Law has made that possible for me.

Update: Lexington Law is offering our readers free credit repair consultation, which includes a complete review of your FREE credit report summary and score. You can follow this link, or call 1-833-825-3700 to take advantage of this no-obligation offer.

Call anytime between 7am and 11:59pm EST to get your free credit report and score!

Call 1-833-825-3700

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What do you do when financial hardship hits and you can't make your monthly mortgage payments? This is a question on many homeowner's minds as nearly 17.8 million Americans are reportedly unemployed during the coronavirus pandemic.

When homeowners face financial hardship, such as the loss of a job, they often look to obtain a forbearance agreement from their lender. A forbearance happens when your lender grants you a temporary pause or reduction in monthly payments on your mortgage. Forbearance is not the same as payment forgiveness, in that you still have to pay the entire amount back by an agreed-upon time.

Mortgage lending institutions differ on their mortgage relief policies and qualifications; however, the Coronavirus Aid, Relief, and Economic Security (CARES) Act were signed into law in late March of this year to protect government-backed mortgages.

Federally backed mortgages include:

  • Fannie Mae
  • Freddie Mac
  • The Federal Housing Administration (FHA)
  • The US Department of Veteran Affairs (VA)
  • The US Department of Agriculture (USDA)

Under the CARES Act, homeowners with a federally backed loan who either directly or indirectly suffer financial hardship due to coronavirus automatically qualify for mortgage forbearance.

Even if your mortgage is not secured by one of these agencies, you still can call and see if you qualify, as many lenders will still offer the option in order to avoid foreclosures.

Under the CARES act, homeowners can claim mortgage forbearance due to financial hardship from COVID-19 for up to 12 months without requiring any documentation or verification. During the forbearance period, mortgage lenders cannot charge late fees or penalties.

Additionally, as long as your mortgage is current at the time you claim forbearance, the lender is required to keep reporting your mortgage as paid current throughout the entire period.

At the end of the forbearance, the CARES act protects consumers from having to make a lump sum payment. Instead, you will be given a repayment plan from your provider. Since repayment options vary, it's important you ask your provider about all of your repayment options.

Possible Repayment Options:

You may be eligible for a loan modification at the end of your forbearance. With modification, the mortgage terms are changed in order to add payments that were missed during the forbearance onto the end of the loan, extending the term.

Another option that may work for some is a reduced payment option. This allows you to keep paying monthly payments at a reduced amount. The amount missed is usually added back into the monthly payments at the end of the forbearance.

For example:

Regular payment: $1000 per month

Reduced payment: $500 per month

Payment after forbearance period: $1500 (until caught up)

Balloon payments, or lump sum payments at the end of the forbearance, are prohibited under the CARES Act. However, mortgage lenders may require homeowners who are not protected under the CARES Act to make a balloon payment at the end, so again it is best to check first with your provider.

Mortgage forbearance should only be considered in true financial hardship. In other words, just because of the pandemic, you should not take a forbearance on your mortgage if you can still afford your payments. Likewise, if you are able to start making payments before the forbearance period is up, it's best to do so as soon as possible.

The Next Steps:

Before you get in touch with your mortgage servicer, save time by gathering as much documentation about the mortgage as you can. Also, be ready to list your income and monthly expenses. Due to an influx in calls, financial institutions are experiencing extremely long wait times right now, and having your information at the ready will help.

Have questions ready to ask. Here are some questions you should be asking:

  • What fees are associated with the forbearance?
  • What are all the repayment options available to you at the end of the forbearance?
  • Will you be charged interest during the forbearance period?

If your forbearance is approved, make sure to keep all documentation pertaining to it. Make sure to cancel any automatic payments to the mortgage during the forbearance period, and keep tabs on your credit report to make sure your lender doesn't report the loan as unpaid.


For more information on forbearance, contact your lender and discuss your options. If you need more assistance with understanding your options, you can contact a local agent for the housing counseling agency, or call their hotline at 1-800-569-4287.