So I have a question about my payment history outside of bankruptcy. Sorry so long.
Here are the basics. I was discharged in March 2017 and I know it will take a while to get another mortgage which I am fine with. I DID NOT reaffirm the mortgage. Shortly after the discharge my job moved me 2 hours away. Since then I have been paying on the mortgage as well as the rental. We are getting the house ready for sale and had the roof replaced etc. I am hoping we can sell it in the next 2-3 months. I won't make a lot but it will pay off the mortgage at least. Our credit is actually MUCH better since the bankruptcy as the issue was mainly high utilization.
The mortgage was discharged in bankruptcy but we keep paying to stay in the house. I know technically I don't have to pay and they can foreclose (we would sell before that happens) but I didn't want any bad marks for when I shop for a new mortgage in 2-3 years (or however long it takes to qualify after a bankruptcy).
My problem is this - money is getting extremly tight with the repairs, staging, etc we are making to the home and now with IRMA (I am in Florida) my next month or 2 pay check will be significantly less - (I get salary + bonus) plus costs to tree damage, etc. (nothing major that would be covered but still a mess). I already started charging on a credit card (have PIF but worried it will catch up)
I was told in my research to keep paying even though it does not report on my credit report so when I do go for another mortgage I will have positive payment history. Someone said even 1 late would hurt me badly.
My question is if I am late by 2 possibly 3 months (example house sells in Nov and I don't pay Sept and October) how bad will this be in me trying for a mortgage later on?
I am hoping my scores by the time I try to buy again will be mid 700's (its close to that now). I just don't want to make a stupid mistake now that will hurt me terribly in the future.
Mind you the banks are not reporting lates to the credit bureaus or charging late fees at least for this month but since mine doesn't report anyway that doesn't help.
Thanks again I hope I am asking this right. Just really having a hard time staying afloat and wonder if I am thinking too much of something that will not be as major as a factor as I am thinking. Part of me says I have 10 years positive payment history, then a bankruptcy so 2-3 lates shouldn't be the be all end all... the other part doesn't want to screw up my chances of owning another home.
Edited by Leesa926, 18 September 2017 - 07:46 PM.