Video answer: Does mortgage forbearance and deferment affect your credit?
Top best answers to the question «Does deferring your mortgage payment hurt credit»
Any deferred payments should not have harmed your credit, so long as you were current on your payments at the time you entered into the agreement.
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“If I don’t defer, will I default on my mortgage payments?” If this happens, your mortgage account will be flagged as delinquent (not in good standing) which may negatively impact your credit rating.
People deferring their mortgage payments are making an unpleasant discovery: it can wreck your credit rating. “The credit reporting agencies, Equifax and TransUnion, don't qualify the information they receive. The only thing that matters is how lenders' systems report deferred payments to them — as late or not.”
Does deferring a mortgage payment hurt your credit score? Deferring your mortgage payment does not negatively affect your credit score. This relief mechanism is recorded on your Equifax credit bureau as “affected by natural or declared disaster” with a payment frequency of “deferred” and a zero-dollar required monthly payment.