How do FICO scores enter into the loan modification process, if at all?
Your servicer will likely use your FICO® score, along with other factors, to help determine the new terms of your loan, such as your mortgage rate. In general, your FICO score plays a key role any time you apply for new credit or change the terms of a loan. That's why staying credit savvy and maintaining a good credit rating remains so important.
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Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
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