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Updated over 6 years ago on . Most recent reply

User Stats

309
Posts
18
Votes
Edita D.
  • Investor
  • San Diego, CA
18
Votes |
309
Posts

Closing on a house in 7 days and credit score dropped 60 points

Edita D.
  • Investor
  • San Diego, CA
Posted

Hey guys,
we are about to close on the house, and we just found out our credit score dropped 60 points, so now we have a delinquent payment of 60$ reported to credit bureaus. (We did not receive a paper statement from the credit card company, so missed the payment).
Would this affect the closing? Would now our interest rate be higher?

Most Popular Reply

User Stats

16,433
Posts
12,718
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Ned Carey
  • Investor
  • Baltimore, MD
12,718
Votes |
16,433
Posts
Ned Carey
  • Investor
  • Baltimore, MD
ModeratorReplied

60 point drop for 1 late payment. I am skeptical. I bet there is more to the drop than you are telling us or that you even understand. Did you run up more Credit card debt buying things for your new house? Yes it is comon for this to happen and screw up closing.

I agree with Andrew Garner that you should contact the creditor ASAP.

  • Ned Carey
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