If you are late with your mortgage

[Jean in Newcastle]

but are still within your grace period where there is no late fee, does it affect your credit rating?

[SonshineLearner]

10 years ago... with mine.... it didn't... I'd give them a call tomorrow and ask:-) Just by asking, you may get some benefit... I'd try to call by the "day of".

Carrie:-)

[Guest Cindie2dds]

It totally depends on the bank's reporting system. They are the ones that report it to the credit agencies and decide when. I agree with the pp; I would call them.

 

Good Luck!

[Jumping In Puddles]

No it does not! It is not late until the grace period is up. It wouldn't be much of a "grace period" if they reported you as late to the credit bureaus. :glare:

 

Once the late fee is added, the grace period is over BUT even then, most companies DO NOT report your mortgage as late until it is 30 days late.

[....]

No. 30 days late is when it is reported to the credit agencies.

 

We constantly monitor our credit and have brought our score from the mid-500's up to almost a 700 in the last year.

[Mom0012]

Nope! I like to pay all our bills at one time and I do it once a month, so it turns out I always use the grace period. It has not had any affect on my credit.

 

Lisa

[Jean in Newcastle]

Whew! Thank you. (Not that you make the policies but this takes a huge load of stress off of me.)