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