Posted on: 15th Apr, 2009 04:27 am
I have great credit. ( I think) 788
I just have a feeling I'm going to need to miss a payment or two on my 1st to get my lenders attention. What will be my missed mortgage payment credit score?
If it's less than a 50 point hit, I might do this since I'll still have good credit.
Thanks,
-B
I just have a feeling I'm going to need to miss a payment or two on my 1st to get my lenders attention. What will be my missed mortgage payment credit score?
If it's less than a 50 point hit, I might do this since I'll still have good credit.
Thanks,
-B
Hi mglmstr,
Lenders report late payments to the credit bureaus if you are 60 or 90 days late. However, you should note that if lender reports your late payment to the credit bureaus, then it would remain on your credit report for 7 years.
Take Care
Lenders report late payments to the credit bureaus if you are 60 or 90 days late. However, you should note that if lender reports your late payment to the credit bureaus, then it would remain on your credit report for 7 years.
Take Care
no, sara...a 30-day late gets reported as well.
i don't have an answer on the hit your score will take, but you can probably absorb it once. going 60 days late will have a much larger impact.
i don't have an answer on the hit your score will take, but you can probably absorb it once. going 60 days late will have a much larger impact.
HI, Well there is no actual amount it will affect. 1 mortgage payment late 30 days can hurt you by 50 or more actually and 2 months late in a row will really put a hurt on your credit score. So, it's difficult to say what your "missed mortgage payment credit score " will be.
Missing mortgage payments for 30 days did not affect our credit. Our lender didn't report our missed payments until it was 60 days late. It affected our credit score by about 100 points so I guess 50 points per missed payment sounds about right.
Two accounts... 1 is 10 days late and I will be making payments within grace period. The 2nd one is 60 days late. Will both of them get reported to my credit report? How much will these late mortgage payment affect credit score?
Hi Guest,
If you make the payment within the grace period, then the lender won't report anything to the credit bureaus. It won't be considered as late. As far as the 60 day late payment is concerned, it will get reported and may lower your scores 80-100 points or more!
Take care
If you make the payment within the grace period, then the lender won't report anything to the credit bureaus. It won't be considered as late. As far as the 60 day late payment is concerned, it will get reported and may lower your scores 80-100 points or more!
Take care