I’m late on my December 1st house payment. I was hoping to make the payment within the 30-day window to avoid affecting my credit, but due to overwhelming medical expenses and constant house repairs, I’m short on funds. I won’t be able to pay until January 3rd. This is the first time I’ve been late on any payment, and I’m concerned about the impact on my credit score. I was planning to move to a more modern home in the next 1-2 years. Will one late payment significantly hinder this plan?
Prioritize your mortgage over medical bills as it won’t damage your credit report as much as a late mortgage payment.
Sage said:
Prioritize your mortgage over medical bills as it won’t damage your credit report as much as a late mortgage payment.
Exactly this. Medical collections can be removed from your credit once paid, but late mortgage payments linger.
@Olin
Plus, you can often negotiate down medical bills once they go to collections.
Sage said:
Prioritize your mortgage over medical bills as it won’t damage your credit report as much as a late mortgage payment.
Agreed!
Sage said:
Prioritize your mortgage over medical bills as it won’t damage your credit report as much as a late mortgage payment.
I avoided paying medical bills for years and it didn’t stop me from buying a house later.
Sage said:
Prioritize your mortgage over medical bills as it won’t damage your credit report as much as a late mortgage payment.
There’s a book called ‘Never Pay The First Bill’ that you might find helpful.
Mortgage payments should be your priority over medical bills and non-essential repairs. A missed or late mortgage payment can significantly affect your credit and your ability to buy a new home.
Zion said:
Mortgage payments should be your priority over medical bills and non-essential repairs. A missed or late mortgage payment can significantly affect your credit and your ability to buy a new home.
This year has been tough with back-to-back medical issues for both me and my husband, leading to high medical costs. We’ve made payment arrangements where possible, but it’s tough.
@Zen
If medical bills end up in collections, you can dispute them citing HIPAA violations, and they’re often removed.
Dru said:
@Zen
If medical bills end up in collections, you can dispute them citing HIPAA violations, and they’re often removed.
Actually, selling or transferring a collection account isn’t a HIPAA violation unless it includes detailed medical information.
@Reilly
If the account includes medical info, it’s a different story. Many have successfully had these removed.
Medical bills can wait, but housing and food can’t. Prioritize accordingly.
I would delay paying medical bills rather than risk falling behind on my mortgage.
Always pay your housing costs before medical bills to avoid jeopardizing your living situation.
Consider contacting your mortgage provider to explain your situation. They may be able to offer a deferment. Keep a roof over your head as a priority.
Logan said:
Consider contacting your mortgage provider to explain your situation. They may be able to offer a deferment. Keep a roof over your head as a priority.
I’m in Texas. I’ll make sure to discuss my options with them tomorrow.
Your lender may be willing to work with you if you explain your financial difficulties.
One late payment can be problematic, but if it’s isolated and you can explain it, it may not be a dealbreaker. However, now you’re facing two payments due next month. It’s wise to seek credit counseling if you’re also struggling with credit card debt.
@Jessie
Thank you, I’ll start making calls first thing tomorrow.