When you are in a temporary loan mod and making partial payments, your creditor will most likely report the account is being paid ‘late’.
How does a temporary mortgage loan modification affect my scores?
by kathywardteam | Nov 20, 2010 | Loan Modifications | 1 comment
We have seen lenders report a loan modification as a foreclosure. They will then list the modified loan as a completely new loan account. This action will dramatically lower the credit scores.