Tuesday, March 3rd, 2009
Navy Federal Credit Union, Universal Default? Do they raise interest rate on credit cd based on mortgage defau
Kim asked:
I have NFCU credit card at a decent rate and we’ve been with them over 10 years. Do they raise interest rate if we go default on mortgage due to short sale or foreclosure?
I have NFCU credit card at a decent rate and we’ve been with them over 10 years. Do they raise interest rate if we go default on mortgage due to short sale or foreclosure?
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March 5th, 2009 at 4:14 am
I have NFCU too and I believe you they give you one chance. If you default once thats a no no but if you default again they will consider you high risk, even if you have been with them a long time and raise you APR. Doesn’t matter why you defaulted you did. Hope that helps….