Posted on: 31st Aug, 2009 10:52 am
Today will be the first time that I have ever been late paying my mortgage.It's the 31st and I have been struggling every month for a while, yet I seem to just barely make it..Well I cannot afford to make the normal payment for certain. I know it will report as a 30 day late on my credit which really hurts, not gonna lie, but I honestly haver no other choice right now, but I am able to make a partial payment, should I do that? I am in the process of trying to get my loan modified through a hud housing counseling agency, so would that be a good thing to do? or should I just save the $ or instead make a triple payment on my credit card? would it still be reported as a 30 day late on my credit report?
your mortgage lender will probably not accept your partial payment. generally, they will require a full payment or nothing at all. you can ask that question specifically of your lender, of course, and you may get the answer you wish.
i'm not sure what you refer to as a "triple payment" either. oh...maybe you're talking about paying the credit card instead of the mortgage? yes, you could do that, but it won't pay the mortgage, will it?
i'm not sure what you refer to as a "triple payment" either. oh...maybe you're talking about paying the credit card instead of the mortgage? yes, you could do that, but it won't pay the mortgage, will it?
If you can afford to pay mortgage from your credit card you should ,otherwise it will be small entry on your credit report but make sure this is just for the first time and it should not be a regular practise otherwse you will be in a big trouble and by that time you can go for modification of the loan.
