Posts Tagged ‘ mortgage modification ’

Impact on credit scores of missed payments, mortgage modification

Dear Experian, I'm considering entering into a six month reduced payment plan with my mortgage lender. I understand this will have a negative impact on my credit. Will this have a worse impact than being 30 days late on my mortgage payment? - STS

Read more

Mortgage modification should not be confused with mortgage refinancing

Dear Experian, In order to refinance our home we might have to miss two or three payments to qualify for a modification loan. We have an excellent credit rating now. Is there a way we could miss these payments without affecting our credit rating? - KHR

Read more

Effect of short sale and mortgage modification on credit scores

  • November 25th, 2009
  • Posted in Featured

Dear Experian, I am going through a short sale on my home and the lender is saying that if I take out a promissory note to make up for some of their loss that they will report my short sale as "paid in full -not full amount" Is that better than just a short sale, or because of the "not full amount" will my credit be dinged just as much as if I did nothing and they just listed it as a short sale? - ATH

Read more

Effect of mortgage loan modification on credit scores

Dear Experian, I'm asking my bank to do a loan modification on my mortgage. They said that I need to be 30 days late on my payment in order to do the modification. Is this going to damage my credit? - RBL

Read more

  • ©2015 Experian Information Solutions, Inc. All rights reserved.