Posted on: 09th Nov, 2007 03:31 pm
I had a late payment 13 months ago on my mortgage. Does anyone know what FHA requirements are for late payments?
It is case by case. I believe the guideline is you have to be current for 12 months.
Why was it late? That is the first question they will ask.
Have any other bills been late?
Why was it late? That is the first question they will ask.
Have any other bills been late?
Hello Jinx,
The reason for being late is important. How much late was that?
FHA considers the entire credit history rather than concentrating only on the late payments. It will be easier for you to qualify if the late payment did not exceed 30 days.
The reason for being late is important. How much late was that?
FHA considers the entire credit history rather than concentrating only on the late payments. It will be easier for you to qualify if the late payment did not exceed 30 days.
