[jillybean]

I was told there would not be a "freeze" on credit reporting but there would be notes attached to the late payments stating a payment agreement has been reached. Once the mod is permanent your payments are not showing late because aren't making "partial" payments under the trial.

I talked to someone who used to work for a credit reporting agency for 10 years who said that a few 30 or even 60 day late payments aren't really that big of a deal if you do take the hit on your credit score, and once you start the permanent mod, when you will no longer be reported as late, your credit will recover those lost points pretty quickly. It's the 90 days past due reports which cause the greatest damage to your score and leave a longer lasting mark.

Personally, by getting my loan modified, I am keeping my home and will not have the need to apply for credit in the near future so I could care less what my credit score is for the next year or two. I'm saving my house, that's the bigger picture here.