Posted on: 11th Dec, 2013 10:56 pm
In case I miss out on paying one month's mortgage, what will happen?
Hi Guest,
The lender might send you a notice stating that you are late on your mortgage payments or delinquent on your mortgage payment.
Thanks,
Jerry
The lender might send you a notice stating that you are late on your mortgage payments or delinquent on your mortgage payment.
Thanks,
Jerry
Welcome Guest,
If you are more than 30 days late, then there is a chance that the lender will report the late payments to the credit bureaus which might impact your credit score.
If you are more than 30 days late, then there is a chance that the lender will report the late payments to the credit bureaus which might impact your credit score.
If you miss out in paying the mortgage for one month, then the lender may send you a notice informing that you have been late in the payments. In case this happens, then the lender may consider you to be a defaulter and may even lose trust upon you.