1 $1,585: Average monthly shelter cost of a homeowner with a mortgage. 2  The average mortgage payment in 2011 was roughly $1,074 per month. 3  26.2%: Of homeowners with a mortgage spent more than 30% of their gross household income on housing (StatsCanâs threshold of âaffordabilityâ).4  Thatâs 1.4 million households. The average mortgage payment in 2011 was roughly $1,074 per month. 2  26.2%: Of homeowners with a mortgage spent more than 30% of their gross household income on housing (StatsCanâs threshold of âaffordabilityâ).
A late payment can stay on your credit report for up to seven years. This is the standard time limit for most items. Only a bankruptcy can stay longer -- up to 10 years in some cases.
In your case, the creditor is Macy's. Once it has been reported, a late payment can stay on your credit reports for up to seven years. After that they must be removed in accordance with the Fair Credit Reporting Act, or FCRA. Derogatory entries can do a lot of damage to your FICO credit score.