As a Realtor, one of the most frequently asked questions I get is regarding refinancing or trying to sell a home that’s upside down (value vs. remaining mortgage). This article won’t help with either of those situations, but it does address how loan modifications may impact your credit score. If you are applying for a loan modification on your home loan, be sure to find out the facts, in writing, from your loan servicer. Also be sure the trial period is as short as possible so you can have it become permanent and not effect your credit score as much.
Read the full article from CNNMoney.com here.
Have you had any experience getting your loan modified? Please share it by commenting below. Others want to hear from you!
Uncategorized 
