Make sure to pay your mortgage as soon as you can. Department of Housing and Urban Development, lenders usually won't start the foreclosure process until three to six months after your first missed mortgage payment.Įven though these safeguards are built in, you don't ever want to take the chance of losing your home. This means that paying your bill one, two, or three weeks late won't hurt your credit score. First, lenders can't report your payment as late to the credit bureaus until you're at least 30 days past due.
There is some leeway, though, with mortgage payments. Credit scores are important: Lenders rely on them to determine if you qualify for a loan and at what interest rate. And not paying your mortgage payment on time can send your credit score plummeting by 100 points or more. It's important to keep the roof over your head. This makes it a bit easier to determine which bills you absolutely must pay on time, and which bills you can more easily tackle after their due dates pass. But thanks to a bit of leeway when it comes to credit reporting, paying bills just a bit late might not hurt your all-important FICO credit score.
Far from it - paying any bill late could result in a late fee. What if you don't have enough money this month to pay every bill by its due date? For the time being, you might need to prioritize your payments. Is your money situation a little tight this month? It happens to the best of us.
0 kommentar(er)
