Late Mortgage Payments On Credit Report
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Posted: Thu Sep 23, 2004 12:00 am
Post subject: Late Mortgage Payments On Credit Report
Bea
Date: 3/15/2001 4:20 am CDT
My question is this. I have 4 mos. of recent late payments reported on my credit report. I was trying to repair my credit but, was set back with this mortgage account. This is a joint account that was paid late. The account is now current but, I need to know how bad is this on your credit report. This is the only account this is reported as delinquent on my report. I recently pulled a credit report via Q-Space and my score was 577. How long will this affect my credit report. I was trying to apply for a department store credit card but, I know that this will probably cause an immediate denial. Will I have to wait 7yrs before I can be approved for a department store credit card with no more lates being reported on my credit report? I have 4 credit cards with no lates reported now. Any advise would help. Thanks
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Posted: Thu Sep 23, 2004 12:00 am
Post subject: Late Mortgage Payments On Credit Report
IcyWealth
Date: 4/14/2001 5:35 pm CDT
Bea, In the future, if you have to be late, don't be late on the mortgage- this is far worse than a credit card late. 577 score is very low. You will be stuck with the unattractive credit cards and rates until you build back a good history. Above 680 is considered good credit, and when you reach 720 you can basically just make up a story, sign your name, and they believe you. As your "delinquent accounts" age they become less and less important. Some lending institutions have guidelines of 1 year, 2 years; some even like you mentioned 7 years.
Best of luck,
IcyWealth
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Thu Sep 23, 2004 12:00 am
Post subject: Late Mortgage Payments On Credit Report
Bea
Date: 3/15/2001 4:20 am CDT
My question is this. I have 4 mos. of recent late payments reported on my credit report. I was trying to repair my credit but, was set back with this mortgage account. This is a joint account that was paid late. The account is now current but, I need to know how bad is this on your credit report. This is the only account this is reported as delinquent on my report. I recently pulled a credit report via Q-Space and my score was 577. How long will this affect my credit report. I was trying to apply for a department store credit card but, I know that this will probably cause an immediate denial. Will I have to wait 7yrs before I can be approved for a department store credit card with no more lates being reported on my credit report? I have 4 credit cards with no lates reported now. Any advise would help. Thanks
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Thu Sep 23, 2004 12:00 am
Post subject: Late Mortgage Payments On Credit Report
IcyWealth
Date: 4/14/2001 5:35 pm CDT
Bea, In the future, if you have to be late, don't be late on the mortgage- this is far worse than a credit card late. 577 score is very low. You will be stuck with the unattractive credit cards and rates until you build back a good history. Above 680 is considered good credit, and when you reach 720 you can basically just make up a story, sign your name, and they believe you. As your "delinquent accounts" age they become less and less important. Some lending institutions have guidelines of 1 year, 2 years; some even like you mentioned 7 years.
Best of luck,
IcyWealth
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 11:56 AM
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