What will happen to my credit if one mortgage payment is missed?

Answer On One Hand: Missed Payments Directly Affect ScoreMissing just one mortgage loan payment can severely damage your credit score. Missing a payment is one step worse than making a late payment; the f... Read More »

Top Q&A For: What will happen to my credit if one mortgage p...

How much damage does a missed mortgage payment effect a credit rating?

A single missed mortgage payment will show up on your credit score, but the real damage is done if missed payments lead to foreclosure--which is to be avoided at all costs.Missed Mortgage PaymentA ... Read More »

When will I have to pay my first mortgage payment?

When paying closing costs, you are usually required to pay the remaining interest for the month of closing. Your mortgage payment will then normally cover the previous month and therefore won't be ... Read More »

Will an extra annual mortgage payment reduce terms?

Making one extra mortgage payment each year can save you thousands of dollars over the life of the loan. It results in less interest and trims approximately 13 years off of the life of your loan. Y... Read More »

Can you use your credit card to pay your monthly mortgage payment?

In 2007, some credit card issuers announced arrangements which enabled cardholders to pay mortgages by card. This permits the cardholders to earn additional rewards. In many cases, there are fees t... Read More »