You need to find out and tell us whether or not your utility company(s) report to the credit bureaus. Some do normally, others only report when you pay late, others only report when you get turned over to collection, others never report. There is no way to know which category your specific utility companies fall into.
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
eliminates the old mortgage, otherwise no effect
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
The credit score can effect mortgage rates in a lot of differnt ways. If someone has a high credit score he get a lower mortgage rate and if someone has a low credit score he gets a higher mortgage rate.
eliminates the old mortgage, otherwise no effect
As long as you are on the mortgage it will show on your credit report and effect you credit no matter if you are the primary, secondary or co-signer
The higher your credit score, the lower your payments. The lower your credit score, the higher your payments. The analogy above shows how your credit rate affects you mortgage rate.
There are actually companies that will work with you for free to buy your mortgage away from your mortgage company and avoid your foreclosure. I would advise looking into this first.
As long as one is not behind on their mortgage payments, one should not effect the other. If one hasn't been making payments they will likely not be accepted for a credit card.
Is the questioner asking about having a 2nd mortgage on his house, which WOULD show up on his credit records? Or are we talking about the 2nd mortgage holder filing a lien against his property for non-payment? Actually the answer to both is the same. Any actions taken involving credit transactions WILL show up on a credit bureau reportsand will affect his credit standing.
If you already have a mortgage, no effect. If not, and you have made up the payment,and all other credit payments are ok, and you qualify in all other respects, not much of an effect. But if you have credit cards and are making payments, their interest rates may go up dramatically.
You won't qualify for a mortgage. If you do it will likely be by a predatory lender who will charge you high fees and roll them into the amount of the loan, knowing you won't be able to pay it.
Co-signing a mortgage will put the debt on your credit report as well as hers. If your credit is bad, it will help improve your credit, however the loan may affect your chance depending on your income and whether the mortgage is still being paid when you apply for a mortgage. Before co-signing make sure you talk to a mortgage consultant who would be able to answer the question to your specific situation.
As long as your mortgage or other payment is received by the loan company within the grace period which is usually 15 days...it is paid on time and does not show a late payment on your credit report.
Many lenders look at credit counseling as a bankruptcy. If you have debt that is managed and paid by a CCC and the agreed upon repayment schedule is being met then it should not effect your credit score. However, if you plan to buy a house, most mortgage lenders will turn down borrowers in credit counseling.