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smilingem
Posts: 1
Registered: ‎07-24-2008
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How soon does a missed mortgage payment show up on your credit report?

I was wondering how soon a missed mortgage payment would show up on my credit report? And once it does, how much does it lower my credit score?
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zep
Posts: 30
Registered: ‎11-20-2007
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Re: How soon does a missed mortgage payment show up on your credit report?

[ Edited ]
I had a late payment reportd by my mortgage company in June. My TU score tanked from 736 to 655. Fortunately it was an error by the mortgage company and deleted the late almost immediately and went back up within two weeks.
 
It happened within a week. I was received a letter from the mortgge company and within two days the drop had been recorded. A week later I got another letter telling me it was corrected and to allow 30 days for the correction but the deletion of the late happened almost immediately.


Message Edited by zep on 07-24-2008 02:01 PM
Moderator Emeritus
Posts: 11,562
Registered: ‎08-29-2007
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Re: How soon does a missed mortgage payment show up on your credit report?

It would depend on when your mortgage company reports as to when the late will show.
 
As for the score decrease, that isn't easy to predict. Depends on what your score was to begin with, what other baddies you have, your most recent late, the positive effects on your score, etc.
 
If you pulled your report from here, you can run the score simulator and get an estimate.
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