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does loan modification affect your credit?

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March 20 2009 - Nassau
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Profile picture for ckandw
Yes.  If they do a loan reduction it will show on your credit as settled for a lesser balance.  It won't affect your credit or future lending nearly as much as a forclosure or BK...If it saves you money...do it...your credit will be fine in a year or two...
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March 20 2009
 

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