Credit Score Hit - 30 points every time!

I learned something interesting at our MLS meeting last Wednesday, a lot of people are paying other bills before they are paying their mortgage. I can't imagine their priorities, cell phone - some where to live? When a mortgage payment is 30 days late it drops your critit score a full 30 points - it doesn't take too many late mortgage payments to devestate your precious credit score!
With the increase in the required credit score to be able to get a mortgage or qualify for PMI it is not ever a good idea to be late on your mortgage. Pay your mortgage as your first bill, and skimp on other things like cable, highspeed, entertainment, eating out, cell phone, gasoline etc....

Powered by FeedBurner

No comments: