Yes, but it depends on how long ago the payment was made late, and how many times it was late.. keep in mind that when a loan officer talks about late payments, were referring to payments that were made at least 30 days after the due date.. if you pay your mortgage 29 days late every month, the late payments would never show on a credit report because they are only allowed to show payments that were made 30 days past the due date.. If the other mortgage is currently delinquent, then you will not get financing at all.... I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
As long as it is only a 1 x 30 you should be ok as long as you meet all other guidelines
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