The NAR (the National Association of Realtors) are a major real estate lobby in Washington, is warning about plunging credit scores in the face of "market conditions". The ideal is that credit scores plunge, even among those who may be timely making payments on credit lines, which in turn may put you out of reach for refinancing your home or purchase a new one, or sell your old one.

http://therealdeal.com/newyork/articles/plunging-credit-scores-spur-nar-into-action-kenneth-harney-from-the-washington-post-says

NAR is recommending that instead of treating borrowers' reduced post-modification payments as evidence that the mortgage was "not paid as originally agreed" that FICO scores should reflect that the lender agreed to lower payments and borrowers are making payments "as agreed."

This is good news for struggling homeowners that hope for credit rehabilitation through loan modification may be on the horizon. If you are facing foreclosure, speak with a Florida Foreclosure lawyer about the modification process, alternatives to foreclosure or foreclosure defense.