With our country’s economic problems on the up-swing, individual credit scores are on the decline and there are a lot of questions arising. If you have a mortgage and cannot make the payments, “loan modification” can be offered by the mortgage company. In most cases, this is considered a concession to the consumer and can show up as a negative on your credit report. I have found this article from only a few days ago that summarizes loan modification and what it means for your credit report and credit score.

Wall Street Journal: Digging Yourself Out of A Mortgage Mess