Already on ArticleSlash?

Forgot your password? Sign Up

Mortgage Refinancing With Late Payments – How Late Your Mortgage Payments Are Matters Most

Louie Latour

Visitors: 154

If you have late mortgage payments you might be concerned how the late payments affect your credit when refinancing. The fact that you have late payments isn’t what matters when it comes to your credit, what matters is how late those payments are. Here are several tips regarding your credit and late mortgage payments.

If you make your mortgage payment late and it arrives on the 17th rather than the 15th, don’t sweat it. This late payment will have little impact on your credit, as long as the payment is not more than 30 days late. This 30 day late is what creditors report and will start whittling away at your credit score. The next bad date you should concern yourself with is 60 days past the due date, then 90 days, followed by 120 days. After this period you are probably looking at foreclosure on your mortgage loan.

If you have a pattern of late payments your credit score will suffer because 35 percent of the score is based on your payment history. The best thing you can do for your credit and the mortgage interest rate you receive is concentrate on making all of your payments on time for at least six months before refinancing. The higher your credit score the better your interest rate will be. Depending on the severity of your creidt problems you may need to enlist the help of a mortgage broker to help you find a bad credit lender willing to work around your credit.

You can learn more about your credit and mortgage refinancing options, including costly mistakes to avoid with a free, six part video tutorial.

To get your FREE six-part Mortgage Refinancing Tutorial, visit using the link below.

Louie Latour specializes in showing homeowners how to avoid costly mortgage mistakes and predatory lenders. To get your hands on this free video tutorial: “Mortgage Refinancing - What You Need to Know, " which teaches strategies for finding the best mortgage and saving thousands of dollars in the process, visit .

Claim your free mortgage refinancing tutorial today at:

Mortgage Refinancing With Late Payments


Article Source:

Rate this Article: 
Credit Cards & Late Payments - New Rules
Rated 4 / 5
based on 5 votes

Related Articles:

Tips on Negotiating Late Payments With Mortgage Lenders

by: Darin Sewell (June 19, 2008) 
(Finance/Mortgage Refinance)

Mortgage Servicing Software Tracks Late Payments

by: Brad Roberts (October 27, 2011) 

How Long Until Your Mortgage Company Starts Reporting Late Monthly Payments?

by: Nick Adama (June 15, 2008) 
(Finance/Mortgage Refinance)

Reduce Your Monthly Payments By Refinancing Your Mortgage

by: Zed Miller (May 29, 2007) 

Home Mortgage Refinancing - Do It Now Before It's Too Late

by: Alan Lim (January 24, 2008) 
(Finance/Mortgage Refinance)

Collect Late Payments

by: James J. Jones (April 28, 2008) 

Same Day Loans - Get Rid of Late Payments

by: Robin Gatting (June 23, 2008) 

Why Late Payments Haunt You For 7 Years

by: Harrine Freeman (April 06, 2007) 

Escape Late Payments With a Cash Advance

by: D.S. Dhillon (July 15, 2008) 
(Finance/PayDay Loans)

Credit Cards & Late Payments - New Rules

by: Tiffany Dow (October 02, 2008) 
(Finance/Credit Tips)