As long as your mortgage or other payment is received by the loan company within the grace period which is usually 15 days...it is paid on time and does not show a late payment on your credit report.
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
As long as one is not behind on their mortgage payments, one should not effect the other. If one hasn't been making payments they will likely not be accepted for a credit card.
If you already have a mortgage, no effect. If not, and you have made up the payment,and all other credit payments are ok, and you qualify in all other respects, not much of an effect. But if you have credit cards and are making payments, their interest rates may go up dramatically.
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
eliminates the old mortgage, otherwise no effect
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
As long as one is not behind on their mortgage payments, one should not effect the other. If one hasn't been making payments they will likely not be accepted for a credit card.
If you already have a mortgage, no effect. If not, and you have made up the payment,and all other credit payments are ok, and you qualify in all other respects, not much of an effect. But if you have credit cards and are making payments, their interest rates may go up dramatically.
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
eliminates the old mortgage, otherwise no effect
No. Neither requesting, nor receiving, a home loan modification of your mortgage will have any impact whatsoever on your FICO, or credit score. Making payments on time affects your credit score. See more:
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
Co-signing a mortgage will put the debt on your credit report as well as hers. If your credit is bad, it will help improve your credit, however the loan may affect your chance depending on your income and whether the mortgage is still being paid when you apply for a mortgage. Before co-signing make sure you talk to a mortgage consultant who would be able to answer the question to your specific situation.
Yes, this is only reported on your credit report if it is a collection account.
Seven years. However, they will have less effect as time goes by. For example, late payments over a year old do not harm your credit as much as late payments from last month. Late payments over 2 years old are generally ignored.
If the house is headed for foreclosure, anyone on the title and the mortgage is facing foreclosure, not just one of the owners. If the daughter was responsible for the mortgage payments by agreement with her grandmother, and got behind in payments, she may be able to pull the mortgage out of foreclosure by a Chapter 13, if she can afford the plan payments and the current mortgage payments. If the Chapter 13 cannot succeed without financial input from the grandmother, it will be up to her to let it go forward and lose the house. Either way, the fact that the house is in foreclosure will affect her credit score.
Increased mortgage rates for a homeowner mean their mortgage payments increase. Additionally, less money will go towards reducing the principle with an increased interest rate.