How Much a Late Mortgage Payment Can Damage Your Credit Score

We all know late loan payments can cause our credit score to drop.

How much it can drop is a little less obvious.

This simple chart gives you a general idea of how much late mortgage payments actually affect your score.

And mortgage payment research from FICO backs it up.

From their research, FICO found just how much those credit scores are impacted by various late mortgage payments.

Check out their post and Sullivan’s post for more detail.

Research looks at how mortgage delinquencies affect scores| FICO viaCredit.com

Photo byKevin Fox.