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.
Like collection accounts, late payments can remain on your credit reports for up to seven years and also have a negative impact on your scores. But, also like collection accounts, they too have less impact as they get older. Itâs good to keep in mind that not all late payments are equal. A payment that is 30 or 60 days late isnât going to have as serious an effect on your credit score as a payment thatâs 90 days past due.