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Reported mortgage loan modification

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Anonymous
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Reported mortgage loan modification

I have a 2006 mortgage loan that was modified in March 2014.  I had one 30 day late in February 2015. Fico 8 Credit scores in the 750 range across the boards. Loan was transferred to a different servicer about a year ago. No lates with them.  About 3 months ago the modification was reported by them and my scores dropped 20 points overnight (down to 750 with Trans and 739 with Experian).  My question is this:

How long does the modification reference remain on my report. Does it come off after 7 years or does it remain for the life of the loan?

 

Any light that can be shed on this would be very helpful.  I am just curious. I have no plans for any new loans or credit cards for the foreseeable future.

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FireMedic1
Community Leader
Mega Contributor

Re: Reported mortgage loan modification

I'm no expert. But looking around the forum. Others say it basically it stays on your report for seven years like any other baddie. The late will be gone Feb '22 and the modification comment March '22. EE isnt really for 1 late payment. Thats about right for a 6 year old 30 day late is 20 pts. Others may know if a MLM can be EE'ed. May fall off on its on early. Didnt want you to wait any longer for an answer. Again no expert here. Just peeked around. Good luck!


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