cancel
Showing results for 
Search instead for 
Did you mean: 

Anyone did a Modification by extension of the terms?

tag
CreditGuy03
Established Contributor

Anyone did a Modification by extension of the terms?

We are considering this option with our lender.

 

They have an option to extend our loan from 30 years to 40 years to help with our debt burden that we have.

 

Has anyone done a modification like this before? The lady told me they would just report it as being paid but the terms will be labeled as modified loan or something on the credit report.

 

What kind of impact will this have on my score?

Equifax - 628, Experian -627, Transunion- 654 In the garden until 01/01/2019
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.