Zillow Advice: Loan Modifications - does a loan modification adversely affect your credit score? http://www.zillow.com/advice-thread/does-a-loan-modification-adversely-affect-your-credit-score/221257/ Zillow Advice | Zillow Real Estate It is adversely affecting ... http://www.zillow.com/advice-thread/does-a-loan-modification-adversely-affect-your-credit-score/221257/ <p>It is adversely affecting my husband's credit score. Other mortgage loan companies will not refinance our mortgage loan and the credit score has decreased about 60-70 points. We were recently told by another mortgage company that it would stay on our credit as an adverse account for 7 years just like any other bad debt. We modified our mortgage as a proactive measure--we were not late, but knew&nbsp;it would be&nbsp;difficult to make our payments due to a change in our finances. We now greatly regret doing the modification. The negative affect to the credit score was never disclosed by our mortgage company.</p> Mon, 12 Aug 2013 12:56:00 GMT http://www.zillow.com/advice-thread/does-a-loan-modification-adversely-affect-your-credit-score/221257/ 2013-08-12T12:56:00Z From what I understand, the ... http://www.zillow.com/advice-thread/does-a-loan-modification-adversely-affect-your-credit-score/221257/ From what I understand, the modification itself does not affect your credit score. However if a mod can make your payment affordable so that you are able to pay on time every month, I can only see you benefiting from that. Alot of people I have done <a href="http://www.zillow.com/mortgage/">loan</a> mods for have already trashed their credit by the time they modify. Wed, 08 Apr 2009 22:33:00 GMT http://www.zillow.com/advice-thread/does-a-loan-modification-adversely-affect-your-credit-score/221257/ 2009-04-08T22:33:00Z