You look at the calendar and start sweating…what are you going to do? Your mortgage payment is due and you just don’t have the money for it right now, for whatever reason. Unfortunately, this scenario has played out time and again across America, and a lot more in recent years. But what’s the end game to a missed payment? What really happens and how much can it hurt you?
Like a lot of credit matters, it depends on a number of factors, but most importantly, your overall payment history. It’s certainly not good though, we can assure you. We Quizzologists wish things were simpler for you, dear reader, but have no fear. This week, we went straight to the source and found five specific things you should know about missing a mortgage payment.
The bad news? It’s going to take some time to heal. The good news? It gets a little better as that time goes by. With that said, here are some other pertinent articles on missing various payments and the effects that has on your score from the Quizzle blog:
- 5 Things to Know if You’ve Missed a Mortgage Payment
- Could HARP 2.0 Help Me?
- 5 First Time Homebuyer Mistakes to Avoid
- In Tough Lending Times, Private Mortgages are on the Rise
- 5 Ways Bad Credit Keeps You From Big Goals