There is some confusion with late mortgage payments and how they affect credit report and FICO score. You have to understand that if a payment has not been received by the due date, mortgage is technically considered delinquent, but a late mortgage payment is not going to harm either your credit report or your checkbook, as long as you are late within 15 day grace period. While all mortgage payments are paid in rears and due on the first of the month, e.g. your February payment is due March 1st, the lender does not do anything if payment is received by March 15.
If you are late on your payment by more than 15 days but less than 30, a late charge of 5% of the payment will be assessed if provided for in the mortgage note, and every mortgage note I have seen had such a provision.
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Nowadays, they take credit card for everything. In fact, if you’re like me, you probably get frustrated at those dry cleaners and shady convenience store that won’t accept plastic for payment. But one Michigan man allegedly got himself into hot water when he tried to purchase his crack cocaine using – believe it or not – a credit card!
What happened?
Although I don’t live in Michigan, I was born and raised there, so I try to stay on top of their news somewhat regularly. I was checking today, and low and behold I see a bulletin from the Associated Press about a man that allegedly told police he was robbed after he attempted to pay for his crack with a credit card. If th
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One of the very first steps you have to take in order to optimize a website for search engines is on-site search engine optimization. When most people think of SEO, things like link-building, social bookmarking, and blog commenting come to mind, but they forget that one of the most integral components of a successful SEO campaign is on-site optimization. On-site optimization consists of taking steps to ensure that your website can be crawled and indexed properly by the search engines. HTML tags, keywords, internal links, and site structure all play an important role in on-site SEO.
To make it easier for search engines to crawl your website, create a sitemap that outlines and organizes the various pages of your website. Read more…
0% balance transfer offers provide credit card users the opportunity to shift debt from high interest credit cards to ones with low introductory rates for up to 12 months. Unfortunately, credit card companies are increasingly placing a very important, yet easy to overlook asterisks next to 12 months. Because of this fine print trickery, a 0% for 12 months* may actually be a 0% for 6 months.
When applying for any credit card, it is extremely important to examine the fine print. The new credit card laws slated to take effect later this month may have given some the sense that fine print trickery was going to end. It is not; in some ways, it is likely to get worse.
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As promised here is the sample, the late payment letter of explanation, tailored for a specific situation when the loan you cosigned gets delinquent. A cosigner often does not realize that the person he cosigned for, has missed a payment or two, and late payment already hit his credit report. This puts cosigner into very awkward situation, where such a late payment letter of explanation is the only hope to rectify the situation and remove late payments from credit reports. First, he is totally responsible for the timely payments as we explained over and over in the posts that are linked at the bottom, when the person cosigned for, defaults.
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