How Late Can You Be on a Car Payment, Mortgage or Other Bill?
Credit Corp
JUNE 14, 2023
The vehicle you purchase serves as collateral for the loan. Therefore, if you fail to make your payments, the lender has the legal right to take your car. If you fall too far behind on payments, the mortgage lender may initiate foreclosure proceedings. How Many Late Payments Can You Have Before You Face Foreclosure?
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