Your mortgage lender reports your payment history to credit bureaus. This information in turn shows up on your credit report and affects your credit rating.
Mortgage lenders report if you are late by 30 days, 60 days, 90 days, or more. They will also report how long you were late by for each of the months you are late.
For example, you can be late by 30 days in April 2006 and late by 60 days in December 2005.
Lenders will count up the number of times you are late by categories, so you can be late 4 times by 30 days, 1 time by 60 days, etc.
Mortgage lenders that work with borrowers who have been late in the past have specific types of late payment scenarios they will accept. Some lenders will only work with borrowers who have been late by 30 days, while others will work with people who are late by 60 days or more.
A late payment once by 30 days is not necessarily a deal breaker for a mortgage lender. Sometimes borrowers are late on their payments for honest reasons, including having their loan resold to another lender and sending in the payment to the previous lender.
There is more than one lender that will work with you if you are 30 days or 60 days late on your mortgage. It is particularly helpful to you if you have some equity in your property. This makes it easier for a mortgage lender to approve your application.