Delinquency
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Delinquency is the state of being past due on a loan payment, beginning the day after a missed due date.
What Delinquency means
Lenders report delinquencies in 30-day buckets: 30, 60, 90, and 120+ days late. Each stage does more damage to your credit and moves you closer to default and foreclosure.
Florida example
A single 30-day delinquency can knock 60–100 points off a Florida buyer's score and may delay a mortgage approval. Most loan programs require 12 months of clean payment history before approval.
A missed payment
Delinquency means a payment is past due. A loan becomes delinquent the day after you miss the due date, and it grows more serious the longer it goes unpaid.
A 30-day delinquency hurts your credit, and 90 days or more can start the foreclosure clock.
Getting back on track
Contact your servicer the moment you know a payment will be late. Options like a repayment plan or forbearance can stop the damage.
Early action protects your home and your credit. Reach out and we will help you find the right fix.