Many people are tempted to…
…enlist the help of a consumer credit counseling agency. Although they can help get your bills in order, there are a few negatives that can go along with this decision.
For example, on your credit report most of your creditors will report that you are in consumer credit counseling. This can be seen as a negative mark when you are applying for a mortgage loan. Many lenders view this as the same thing as a Bankruptcy (chapter 13) and will underwrite the loan accordingly.
Other lenders will simply ignore it. It’s best to talk to a competent mortgage broker and find out all your options.