Involvement In Failed Real Estate Scheme Results In Big Drop In Credit Score For Navy Officer, Leaving His Security Clearance, Service Status In Limbo

In Fresno, California, KGO-TV Channel 7 reports:

• The ABC7 I-Team has been investigating a statewide, multi-million dollar real estate scheme that ruined credit scores for dozens of Bay Area investors, but one man's story stands out. He's a Navy officer who just volunteered for a tour of duty in Afghanistan. The condos he bought for more than $1 million are now virtually worthless. But even worse, he says, he can't be deployed overseas because of the huge drop in his credit score.

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• Late last year, he got a default letter from a bank. Then a call from the Naval Criminal Investigative Service saying his security clearance was under review. That's because his credit score had dropped from more than 800 to around 500. [... His] deployment was [placed] on hold.

For more, see Scheme ruins war veteran's credit score.