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How does a loan modification impact my credit score?

April 26, 2017Credit score impact loan modification

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How does a loan modification impact my credit score?

1 Answer

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10 Posted

Loan modifications are not flagged as derogatory information on your credit report. Once your loan has been formally modified, your credit score will not be penalized as long as you make timely payments, even if they are substantially lower than your original payments.