A Loan Modification is not based on credit. The banks are trying to make a good loan out of a troubled loan. The loan modification will not hurt your credit; generally only late payments or a foreclosure will negatively affect your credit score.
Recent Posts
- “Utang na Loob” and Financial Obligations: Navigating Debt and Reciprocity in Filipino Culture
- Saving for the Future: How Filipinos Balance Short-Term Needs and Long-Term Financial Goals
- The Role of “Pakikisama” in Filipino Financial Management: A Guide for Filipino-Americans
- Why Filipinos Prioritize Education and Family When it Comes to Financial Planning
- The Importance of “Padala”: How OFs Support Their Families Through Remittances