What is considered a mortgage late? How bad will it hurt my credit?

Yes, it's a 30 day late for sure and possibly a 60 if you don't pay it. It will certainly hurt your credit score, how much depends on too many other factors to predict. It could even disqualify you from refinancing in the future. It's always best to contact them and make arrangements before it gets this far. You should call them now and make a payment arrangement before it gets worse and unmanageable.

Unfortunately, if you are 45 days late with your monthly mortgage payment, it will be reported as a mortgage late on your credit report. Your credit score will suffer to some degree. The most important thing for you to do now is to find out your options on refinancing your existing loan. Do you have an FHA Loan? It may be possible to somehow refinance your loan and get you into a mortgage that is more affordable. I would love to know more about your situation and give you some honest advice. Please email me your contact information. We are Direct Lenders and licensed to do business in all 50 states. www.Mortgage-FHA-Rates.com.

A mortgage late is any payment that is not paid in the same month that it is due. This also has to be a FULL payment. If you fail to pay a late fee in the month it is due, this could be considered a mortgage late.In today's tough credit market, lenders typically require 12-24 months of good payment history with no late payments.Gary N. Smith, CMCwww.garynsmith.us

Some lenders will still consider borrowers with up to 2 - 30 day lates in the past two years. 60 days is a killer. Yes, if you don't pay your monthly statement by the end of the month, including any late fees, they will report this to the credit repositories, which will cause you credit score to go down. .... Happy funding, Rudi