Re: 50 point drop for 30 day past due on ocwen mortgage
@BadCredBen wrote:
30 days start hurting a little less each month, but after about 2 years, their neg stops.
There is no way to definitively say this. There are anecdotal stories that a 30 day late loses much of it's impact after several years but any negative can affect your score for a long time depending on what else is on your reports.
Every situation is different and IMO there are no absolutes as far as credit goes.
Re: 50 point drop for 30 day past due on ocwen mortgage
MVV's post matches my experience.
It would be more accurate to say that a 30 day late loses most of its effect after 2-3 years for most people. Also, the effect of a single 30 day late seems to last longer if you have excellent credit other than that single late.
Also, if the late is listed on the FICO factors affecting your score than you know it has to be hurting your score by at least one point.
Re: 50 point drop for 30 day past due on ocwen mortgage
Any luck getting that removed by ocwen? I had exactly the same thing. 30 day late for making march 1 payment on april 1. Score dropped from 724 to 618.
Re: 50 point drop for 30 day past due on ocwen mortgage
Hi:
Sorry for responding late , I had no luck with Ocwen....it seems there is absolutely no one that can help you there....So far the next month it did not show as 30 day late , but as pay as agreed instead.
It gained 30 points from those 50 that I lost.
Hope you are feeling better buddy....it really hurts!!!
Re: 50 point drop for 30 day past due on ocwen mortgage
Thanks for the reply... I am hoping that I will see a decent rebound when in a month it shows up as paid as agreed.
I just wish there was someone at Ocwen that I could talk to and would be reasonable. Their customer reps in India are no help.
I've had credit for 20+ years and been slightly late at times, but never had it reported. Reporting when a payment is one day over 30 late seems like an unusual practice... has anyone else ever experienced that?
