How a severe late affects me?

smo65d11 · ‎12-19-2008

I had a rough time a couple of years ago and was 150 days late on my mortgage starting 9/06 up to 1/07, and then was 60 days late from 5/07 to 6/07. I have not been late since. But I have only had this mortgage since 6/06. I know it stays on my CR for 7 years, but "should" my score improve a bit every month as time goes on, or maybe each year, or does it get equally dinged for the full 7 years?

MidnightVoice · ‎12-19-2008

It should hurt less after a couple of years, but if it is your only baddie it will hurt for the full seven years. When my only baddie fell off after 7 years I went up 50 points

The slide from grace is really more like gliding
And I've found the trick is not to stop the sliding
But to find a graceful way of staying slid

marty56 · ‎12-19-2008

I have 1 major derog which is a little over 3 years old and 2 other 30 day lates which are 5 years old. I have seen no score change as the major derog ages so I would say that I'm stuck for the full 7 years or until the BofA TL gets deleted which ever comes first.

1/25/2021: FICO 850 EQ 848 TU 847 EX