Amex denial due to loan modification

[M_Smart007]

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@mrcrisp023 wrote:
What makes me unsure is there’s no date on the comment. They can’t tell from looking when it was from. Even if I go 7 years never missing a payment they’re still gonna see that the loan was modified at some point.

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@mrcrisp023, I am not sure this would help? ,

but might be worth your time to read? Should I Add a Consumer Statement to My Credit Report << link to article

[GZG]

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@mrcrisp023 wrote:

 did a loan mod to get caught up and have been on time since

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Are you caught up to the point that you've paid the same amount of money you would have had you not had the loan mod done?

could be a potential reason to help you negotiate with them for deciding on correctly reporting the fact that the loan is no longer under a loan mod

[bigseegar]

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@mrcrisp023 wrote:

Hi All,

I did an app for the Amex green charge card just to see what would happen since it would  only be a soft pull if I didn't take it or was denied. I expected a denial, but the reason I got back was surprising: 

"You are participating in a payment relief or deferral program, receiving modified terms, or credit counseling services, on one or more of your accounts or loans."

That was the only denial reason I was given. During Covid, I got behind on my mortgage payments and did a loan mod to get caught up and have been on time since. How long is this going to hinder me from getting an approval?  Should I call the back door number for more insight?  Was that the only reason for the denial?

Thanks. 

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A lot of lenders look at a Loan Modification the as a BK unfortuntely.

[805orbust]

Whoa... @bigseegar is that true?  That would suck as @mrcrisp023  was saying it has no date on it. Seems kinda grimy if you ask me. Just a low-key if making you pay dearly for something touted as a saving grace during the pandemic. 

[bigseegar]

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@805orbust wrote:

Whoa... @bigseegar is that true?  That would suck as @mrcrisp023  was saying it has no date on it. Seems kinda grimy if you ask me. Just a low-key if making you pay dearly for something touted as a saving grace during the pandemic. 

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I can only say it was true as to my case and what several banks and lenders relayed to me in 2010.

[mrcrisp023]

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@bigseegar wrote:

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@805orbust wrote:

Whoa... @bigseegar is that true?  That would suck as @mrcrisp023  was saying it has no date on it. Seems kinda grimy if you ask me. Just a low-key if making you pay dearly for something touted as a saving grace during the pandemic. 

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I can only say it was true as to my case and what several banks and lenders relayed to me in 2010.

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What ended up happening @bigseegar? Did it ever fall off or has it stuck since? Has it still prevented you from getting new credit?

[7774x]

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@M_Smart007 wrote:

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@mrcrisp023 wrote:
What makes me unsure is there’s no date on the comment. They can’t tell from looking when it was from. Even if I go 7 years never missing a payment they’re still gonna see that the loan was modified at some point.

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@mrcrisp023, I am not sure this would help? ,

but might be worth your time to read? Should I Add a Consumer Statement to My Credit Report << link to article

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 A relative who worked in bank lending  said statments on CRs are worthless ..Amex getting picky on some items..they don't want  you.. just say adios to them..However if you really want the card ...keep trying on prequal site

[mrcrisp023]

Understood, appreciate the insight. Thank you!

[bigseegar]

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@mrcrisp023 wrote:

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@bigseegar wrote:

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@805orbust wrote:

Whoa... @bigseegar is that true?  That would suck as @mrcrisp023  was saying it has no date on it. Seems kinda grimy if you ask me. Just a low-key if making you pay dearly for something touted as a saving grace during the pandemic. 

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I can only say it was true as to my case and what several banks and lenders relayed to me in 2010.

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What ended up happening @bigseegar? Did it ever fall off or has it stuck since? Has it still prevented you from getting new credit?

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I sold the house in 2015 and for whatever reason 2 months later after the payoff had posted the bank completely removed the entire mortgage history from all 3 Bureau's. So no, not since then has it caused me any issues. 

[mrcrisp023]

Got it. Thanks for replying back.