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CNNMoney recently received a flood of e-mails from readers complaining about the impact of trial modifications on their credit reports.
To be sure, many people who apply for the president’s plan are already delinquent in their mortgage payments, which wrecks their credit backgrounds. And obtaining a trial modification should affect borrowers’ scores because it shows they cannot meet their original obligation, experts said.
But being in a months-long trial period may only add to the pain.
Jason Axelrod learned that the hard way.
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