| Author |
Previous Topic | Next Topic |
|
varga197
142 Posts |
 Posted - 07/17/2008 : 4:11:18 PM
|
Do loan modifications negatively affect one's credit?
Thank you |
|
katbunk
1574 Posts |
Posted - 07/17/2008 : 4:14:56 PM
|
| I've heard that it does, but we had a loan mod rep in our office a few days ago and he states that with his company it does not. He says the the current loan will show "paid as agreed". I don't have any experience yet to know if this is correct or not. |
|
|
brianconner
331 Posts |
Posted - 07/17/2008 : 4:37:35 PM
|
| Kat's right, as long as they continue with timely payments, there won't be any negative data on the credit report. |
|
|
Hustler12
1103 Posts |
Posted - 07/17/2008 : 4:42:53 PM
|
quote:
Originally posted by katbunk
I've heard that it does, but we had a loan mod rep in our office a few days ago and he states that with his company it does not. He says the the current loan will show "paid as agreed". I don't have any experience yet to know if this is correct or not.
You do have to make sure that this is in the signed agreement when the loan mod is finalized. FYI |
|
|
| |
Previous Topic | Next Topic |
|
Search for: 
