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Will a loan modification hurt my credit score?

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August 06 2009 - Vallejo
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In general only if you are late on your mortgage or other bills that show up on your credit report will your credit be hurt.  We have alot of interesting faq's about loan modifications that may help you and you can find great information here on them to start educating yourself http://www.callalms.com/loan-mod-faqs.
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October 03 2009
Unless you are late- not likely. Under HAMP, occasionally, the homeowner is expected to pay three payments in order to solidify the modification. These are payments at the new proposed modified rate. Now, whether or not they reprot these as lates is really up to the lender. Technically, your mortgage is not modified yet until the 90 day probationary period. But, if solidifying your home is the most important issue, then you may have to take a hit. Best of luck
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August 11 2009
If you are behind in your payments your score is already hurt. If you are able to make your payments with out being able to show some kind of hardship a lender might not cooperate. A modification is better than a foreclosure by far but if you are asking the lender to forgive some of the debt it can be considered a "Charge Off" and it will have a negative effect on your credit. A lot will depend on your individual circumstances and how they choose to report it.
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August 07 2009
 
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