With
slightly damaged credit, on the other hand, you may qualify for loans with higher interest rates and less attractive terms — or not qualify at all.
They can vary from
slightly damaged credit to severely damaged.
Lending to you is less risky to some lenders than loaning money to someone with
slightly damaged credit.
Not exact matches
However, a
slightly higher interest rate is much less
damaging than a defaulted student loan or multiple loans showing 60 days past due on your
credit report.
If your
credit is already
damaged, your priorities may be
slightly different.
The problem with most people in pre-foreclosure is because their
credit is
slightly damaged now, the banks are less inclined to refinance or work with the homeowner.