How many times did you miss payment on mortgage? That will decide what your credit score is (from Equifax) which will ultimately decide whether youir lender will renew your mortgage. Check with your friendly neighbourhood mortgage broker, and they will be able to get you a good deal.

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I have up to 15 days every month to pay, but i sometimes pay after . i don't mind paying the late fees, it's not an issue. how about credit wise (there is nothing that i can do right now to pay on time) ?

It may not be reported to the credit bureaus unless it hits 30 days, but you do not have a 15 day grace period. The grace period is to avoid the late fee, It has nothing to do with your account. You are charged interest every day past your due date, it's called per diem. If you have any doubts, just call your mortgage co and ask.

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But you are still making your regular payment every month? seize property over $200.00? i don't think so.

Technically, you are paying late every month. If you have outstanding late fee, that comes out of your payment first which makes your payment short. You therefore incur yet another late fee. Eventually, your regular payment will be eaten up by the accumulated late fees and they will be foreclosing on you.

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Unfortunately, i got into the habit of paying later in the month and haven't been able to get back to paying on the 1st of the month. i asked someone from the mortgage company, when i called to pay one month, and she said as long as it is under 30 days, it wouldn't get reported as late. but . . . my parents said when i go to buy another house, the lenders will be able to see that i had been less than 30 days late, even though it doesn't show on my credit report! thanks for the help.

I've worked in mortgage lending and servicing for more than 20 years and I can tell you for a fact that unless you are more than 30 days past due your loan is not reported delinquent. All credit reporting is done automatically and the tapes usually run about the 5th day of the month. Most deeds of trust contain a clause that says you will not be charged a late fee until 15 day AFTER the due date which means they will not charge you a late fee until the evening of the 16th (unless it falls on a weekend, then it would be the following business day). Future lenders have no way of viewing your previous payment dates and rely totally upon credit as reported by your lender. You are, however, paying a lot in late fees that you could better direct to principal reduction.

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I am a new homeowner, severe unecpected expenses occurred and my paycheck will come a few days after the mortgage pymt is past due. if i pay it a week after the grace period, how bad will it affect my credit score?

One late payment should not have a big impact. If it becomes a pattern that would be different.

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I'm doing research for a book on economics. i know you can't publish a book based on yahoo! answers, but what you tell me will "guide the direction" of my research. i need to know: 1] do you pay your mortgage late (out of necessity)? 2] how much are your late fees? 3] do they threaten to foreclose? 4]how late are you? and 5] who is your mortgage company? i am not asking for any personally identifiable information such as your name or account number, just the information above to help guide me, don't be embarrassed, you are not alone, i, and many others, are there with you. thank you and good luck!

I'm a banker with one of the big three banks. The mortgage is the last thing you should pay late! That looks awfully bad on your credit report. Think about it, the home is the last thing you want to lose. Each state has laws related to foreclosures, and the process should be spelled in out in your original mortgage paper work, either the mortgage itself or the disclosures statements and most likely duplicated in both. You should have a grace period of 10-15 days. But that means you should not wait to mail on the 15th day because it could be late! You definitely want to stay inside of 30 days for being late if possible. At 30 days late, it is reportable on your credit report.

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I am sure that if someone is facing foreclosure on their home, that they have the option to take money out of their 401k without penalty. is this accurate? thanks.

You usually cannot take a withdrawl while still working for that employer. Although, you may be able to take a loan for limited purposes. But the loan and (non-deductable) interest are paid back with after tax money (taxed again when eventually distributed). The question is whether you could remain caught up with house payments while paying back the loan from payroll deductions? Check with your plan documents or HR department to see what your options are, since 401(k) plans vary.

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I am about 3 months late on mortgage payments, and i think this company will help me pay it off, then i can re-finance, the monthly bill, so is this a good idea to go with these people? or am i just wasting my time.

Vonage is a telephone company and you have posted under "Land Telephones". Why would a telephone Company help pay your mortgage?

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If you get it in before the late fee is due it doesn't effect the interest at all. Even if you pay a day late and pay the late fee the total interest paid is the same, you have just paid more for the late fee.

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I always pay my mortgage on time but this time i need another week past the grace period to pay it

no..but it could be noted against you on a credit report..just keep paying on time now...and there will be nothing said by the mortgage company

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Or does the late payment reflect after the grace period has ended?

As stated, it is not reported unless you go 30 days. Just for the record, anytime you go past your due date, which is usually the !st of every month, you are charged additional interest every day until it is paid. It's called per-diem. The grace period was set up by FDIC, not the bank. If you have any doubts, just call your bank and ask what the per diem rate is.