Posted on: 08th Jan, 2014 12:21 am
Is it possible to refinance even with late payments? I would like to refinance my existing mortgage.
Too much of late payments may create problems for you when you apply for refinance. In case you were not more than 30 days late or if you haven't been late last year, then there may not be much problems.
You should not have too many late payments when you want to refinance your existing mortgage.
Are the late payments on the mortgage over 30 days late?
If you have late payments under 30 days, those late payments are not reported to the credit bureau and do not count against you for mortgage refinncing purposes.
Over 30 day late payments do count against you and against your credit score.
We can not tell you what is possible unless you tell us how many over 30 day late payments there were in the last 12 months and if any payment over 60 dys late in lst 24 months.
If you have late payments under 30 days, those late payments are not reported to the credit bureau and do not count against you for mortgage refinncing purposes.
Over 30 day late payments do count against you and against your credit score.
We can not tell you what is possible unless you tell us how many over 30 day late payments there were in the last 12 months and if any payment over 60 dys late in lst 24 months.
What and when - we really cant say unless we have more info
any mortgage lates in the last 12 months the answer is no
any 60 day late within the last 24 months on a mortgage then no
If it is a car or credit car and there was one 30 day late in the last year maybe - if it is more than a year old it shouldnt hurt
Please tell us more
Brian
any mortgage lates in the last 12 months the answer is no
any 60 day late within the last 24 months on a mortgage then no
If it is a car or credit car and there was one 30 day late in the last year maybe - if it is more than a year old it shouldnt hurt
Please tell us more
Brian
