In the last few years Trans Union, Experian and Equifax have disclosed more specific information about the damage to credit scores after mortgage late payments. Here are some examples for a FICO credit score:
30 day late payment – damage to credit score
780 score drops to around a 670-690
720 score drops to around a 630-650
90 day late payment – damage to credit score
780 score drops to around a 650-670
720 score drops to around a 610-630
Foreclosure – damage to credit score
780 score could drop to 620-640.
720 score could drop to 570-590.
How much do credit scores drop with a mortgage late payment?
Notice how much risk is attached to a consumer with a recent 90 day late payment; even with a start point of a 780 credit score, a 90 day late payment is not much different in impact than a foreclosure!