2007-01-01 16:18:53 · 10 answers · asked by powerdiva411 1 in Business & Finance ➔ Renting & Real Estate
Very bad
2007-01-02 02:03:47 · answer #1 · answered by AJ 7 · 0⤊ 1⤋
Hello, it depends on how your other credit looks and how far apart your late payments are. If everything else is OK, and you missed a couple of payments here and there, it's not that bad. But if your other credit isn't that great and you were late two months in a row, then that's not good. It also depends on what type of credit you're trying to obtain. Automobile lenders really pay attention to previous vehicle loans and mortgage payment history.
2007-01-01 16:35:44 · answer #2 · answered by Drew R 1 · 0⤊ 0⤋
IT IS BAD!!
Most creditors look to a borrower's mortgage payment first on your credit report before they look at anything else because it's typically the borrower's largest debt.
If you can put this 30 day late payment 12 months behind you, it will be less of a factor. And certainly don't do it again...
If for some reason you have to miss a payment, start with the credit cards. Here's the order of importance starting with most important:
1. mortgage/home equity loans
2. student loans
3. car loans
4. unsecured bank loans/personal loans
5. credit cards
2007-01-01 23:56:28 · answer #3 · answered by Anonymous · 1⤊ 1⤋
They will definatly hurt your credit score, how much I have no idea. I do know that being a mortgage pro, you can have "running" lates that only count as 1x 30day late on your rating that lenders will give you ie. A, B, C, etc.. If you can pay it up.. But if you have to run late its ok to have it roll ie. July, august, sept,.. If at any point you pay up and clear that but then then 2 months later go 30 day late, you will have a lower grade.
Hope that helps.
2007-01-01 16:27:24 · answer #4 · answered by camrenalexis2 2 · 0⤊ 0⤋
1st- don't do that again.
it will drop your credit score up to 60 pts, just for those two missed payments. And, it can affect if you want to get a mortgage in the future, whether you purchase or refi, as some programs/products REQUIRE you to have NO late payments.
-DJ
Wholesale Mortgage Lending Sales Rep
2007-01-01 16:47:51 · answer #5 · answered by djdraven99 2 · 1⤊ 0⤋
It's bad. Also depends how recent they were. Within the last 2 years?
2007-01-02 02:56:11 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Yes, I recommend having a credit repair service correct that.
2007-01-02 04:30:01 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Living on the street bad!
2007-01-01 17:10:57 · answer #8 · answered by Rachel T. 2 · 0⤊ 0⤋
it definitely will show up on your credit score ,and that is not good
for your credit,
2007-01-01 16:32:44 · answer #9 · answered by Byzantino 7 · 1⤊ 0⤋
Bad...dont do it again
2007-01-01 16:30:01 · answer #10 · answered by emourelatos 2 · 0⤊ 0⤋