I am behind in my mortgage does this affect my credit rating?

Not only it will affect your credit rating, but you are in danger of losing the place you call home. Mortgage companies don%26#039;t usually wait too long before foreclosing.

I am behind in my mortgage does this affect my credit rating?

Yes, if you are behind on your payments, your credit rating would obviously go down. You have to talk to the bank and catch up before the damage is permanent.

I am behind in my mortgage does this affect my credit rating?

Once the mortgage company reports that you are behind to the various services (equifax, etc) it will drop your credit score. If you have a plan to get caught up, you could trying calling your mortgage company and explaining the situation, and request that they not report the lateness. It might work, it might not, but it%26#039;s worth a try. If you are going to be behind for some time, you should still try to work things out with the mortgage company to limit your late fees and make sure they don%26#039;t move to foreclosure.

I am behind in my mortgage does this affect my credit rating?

Everytime a person is late on their mortgage or credit card bills it will show up in their credit. Now if it will affect them in the future it differd from company to company.

I am behind in my mortgage does this affect my credit rating?

Debt is categorised into primary and secondary debt. if you have other debts that are affecting your ability to pay your mortgage, eg. credit cards, store cards, personal loans then there is serious help available from an organisation called the CCCS (consumer credit counselling service). if you have spiralling debt, these people are to unsecured creditors as a silver crucifix is to a vampire (?). seriously, if you are in any danger of losing your house or happiness - RING them.

i%26#039;ve just realised that most of the people using this site are american so you%26#039;d have to find the US equivalent of the free service offered by the CCCS.

I am behind in my mortgage does this affect my credit rating?

THIRTY day lates---definitely, significantly. LESS THAN 30 day lates, no, but you will owe the lender a late fee.

I am behind in my mortgage does this affect my credit rating?

If you are 30+ days late than yes it is on your credit report, and your rating will go down. On top of your rating going down it will impact your ability to obtain reasonable financing on future home loans.

Foreclosure preceedings typically start once you go 90+ days late. You also will have what is called %26quot;rolling%26quot; lates once you have gone 30+ late unles you pay the late amount plus the current amount due. These %26quot;Rolling%26quot; lates will also affect future home loans.

Typically speaking you want to make sure your mortgage is paid before anything else, if you plan on being able to get financing on any future homes, or refinancing your existing home. lenders look at mortgagge lates harder than they do other lates (i.e. credit cards).

If you own a home, and are having a hard time making all of your bills because of too much other debt, then I would consider a cash out refinance of the first mortgage, or obtaining a second mortgage to eliminate your other debt. Your housing payment will go up, however you might save more money int he long run by not having the other payments. However, if you do this you need to make sure you do not use your other lines of credit until you can realistically afford to make all of your payments. Going through CCCS is an option, but if you use this service you will negitivly impact your ability to obtain future loans. No matter what make sure you leaarn formt his experiance. we all run into finacial difficulties from time to time, but we need to make sure that we figure out what got us in those situations, and how to avoid them in the future.