How late does a mortgage payment have to be, before the mortgage company reports this to your credit report?
Answer:
30 days, no grace period.
In most cases it's 30 days late that it will affect your credit report.
I'm not exactly sure about that but I do know that after 2 months, they start foreclosing on your house.
30 days
Usally you will have a grace period in which to pay your mortgage, but you will be reported if you are 30 days late.. You will need to check withyoru bank to find out what your exact grace period is.
For instance:
Due on the 1st of the month,
Consider late after the 15th of the month,
Reported on 31st day after the due date.
My mortgage company reports it if it is not received by the last day of the month. Hope this helps!
1 month
30 days late more than 2 in a 12 month span.
Try the links in http://www.hot8sites.com/mortgage/. for all information on mortgages
Simple: More than 29 days late and the mortgage company will report a "30 day late payment". Mortgage late payment are severe, costing 60-120 credit score points, depending on your other credit. One late payment also makes refinance or purchase rates higher for the next 12 months.
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