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.
However, you should know that any late payment will stay on your credit history for seven years. The credit hit gets worse the more you push the payment back. A payment thatâs 90 days late is worse than one thatâs 60 days late, which is worse than one thatâs 30 days late, and so on. The biggest detriments to your credit are collection items such as bankruptcies, foreclosures and liens.