Late Payments

Making payments on time is one of the best ways to keep or improve good credit. Late payments will stay on your credit history for up to two years, but like all negative information, it will affect your score less as time marches on. Learn more here about late payments mean to your finances.

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Lower Monthly Mortgage Payment Should Be Goal Of Loan Modification Under Making Home Affordable Plan

A lower monthly mortgage payment should be the goal of a loan modification or a streamline refinance. If your lender offers you a loan modification but raises your monthly mortgage payment, see what else they can do to help lower your monthly mortgage payment. Maybe you can participate in the Obama Making Home Affordable Refinance Program and extend the life of your loan and reamortize to lower your monthly mortgage payment. My personal finance and real estate advice is to go to a your lender and get your lender to lower your interest rate to lower your monthly mortgage payment. Lowering your monthly mortgage payment is a goal of the Obama Making Home Affordable Refinance Program.

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