Life happens—and sometimes that means missing a mortgage payment. Whether it’s an unexpected expense, a job change, or just forgetfulness, falling behind on your mortgage can feel overwhelming. But don’t panic. Understanding what actually happens when you missed a mortgage payment and knowing what steps to take can help you get back on track without long-term damage.
Here’s a breakdown of what to expect if you miss a mortgage payment, what the timeline looks like, and how it affects your credit.
Contents
- 1–15 Days Late: Grace Period (You’re Probably Okay)
- 15–30 Days Late: Late Fees Kick In
- 30 Days Late: Credit Damage Begins
- 45 Days Late: Loss Mitigation Outreach Begins
- 60+ Days Late: Collections and Pre-Foreclosure Risk
- How a Missed Mortgage Payment Affects Your Credit
- What You Can Do if You Miss a Payment
- Bottom Line
1–15 Days Late: Grace Period (You’re Probably Okay)
Most mortgage lenders offer a grace period of around 15 days. That means if your payment is due on the 1st, you usually have until the 15th to pay without penalty.
What happens during this time:
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No late fee (yet).
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No damage to your credit score.
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No report to credit bureaus.
If you realize you’re going to be late but still within the grace period, pay as soon as possible to avoid fees.
15–30 Days Late: Late Fees Kick In
Once you’re past the grace period, lenders will typically charge a late fee, often around 4%–5% of your monthly payment. For example, on a $1,500 mortgage, you might owe an extra $60–$75.
What happens after 15 days:
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Late fee added to your balance.
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Still not yet reported to credit bureaus (in most cases).
Good news: If you catch up before 30 days are up, your credit score is likely still safe.
30 Days Late: Credit Damage Begins
Once you hit the 30-day mark, your lender is allowed to report the missed payment to the credit bureaus—and they almost always do.
What happens at 30 days:
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Credit score takes a hit—often 50 to 100 points depending on your credit history.
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The late payment stays on your credit report for up to 7 years.
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You may get calls or letters from your lender’s collections department.
Tip: Contact your lender before this point if you’re struggling—they may offer forbearance or a repayment plan.
45 Days Late: Loss Mitigation Outreach Begins
At 45 days late, mortgage servicers are required to reach out and offer loss mitigation options. This may include:
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A repayment plan.
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Loan modification.
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Forbearance (temporarily reduced or paused payments).
The key is communication. If you’re avoiding calls or ignoring the problem, options shrink fast.
60+ Days Late: Collections and Pre-Foreclosure Risk
By the time you’re 60 days late, you’ll likely face:
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Additional late fees.
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Escalation to the loan’s collections department.
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A second negative mark on your credit report.
Some lenders begin pre-foreclosure proceedings around 90 days late, depending on the state and the mortgage contract.
How a Missed Mortgage Payment Affects Your Credit
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One 30-day late payment can drop your credit score significantly.
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Multiple missed payments (30, 60, 90+ days) can devastate your score and stay on your credit report for seven years.
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Future lenders may see you as high-risk, making it harder to qualify for loans or favorable interest rates.
What You Can Do if You Miss a Payment
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Pay as soon as possible. The sooner you catch up, the better.
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Contact your lender. They’d rather work with you than foreclose.
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Explore hardship options. Especially after job loss or illness, you may qualify for temporary relief.
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Consider housing counseling. Free help is available through HUD-approved housing counselors.
Bottom Line
Missing a mortgage payment doesn’t mean immediate disaster—but it can quickly snowball if ignored. Most lenders offer a little wiggle room, and your credit won’t take a hit unless you go more than 30 days late. That said, acting early and staying in communication with your lender is your best bet to protect your home and your credit.
