Late mortgage payments hit credit score hard

(Flickr photo by photosteve101)

When a homeowner is purchasing the next home and needs a mortgage, any payment slips during the previous 12 months is bound to cause pain.

As North Shore Advisory, a credit restoration company, notes in a recent  newsletter:

Most lenders

14 ways you can help or hurt your credit score

Think twice before opening new account.  (Flickr photo by Alan Cleaver)

You’re in a department store, and the sales _____ (clerk, assistant, team member, associate — your choice) offers you an extra 20 percent off if you open a charge account at the establishment.

Good deal, you think, especially if the purchase adds up.

Maybe, but only if you don’t place a high value on having a high credit score.

It turns out,

Weekly Roundup: Wily boards, condo prices, housing starts, FICO scores, pocket listings, ghosts, recovery consensus and much more

Those co-op boards are at it again — and again — even against their own

Feng shui consultant busy in Manhattan

Owners of highest-end apartments pay far smaller percentage of units’ sales value in taxes than others do

New condos post 16.7 percent price rise over a year ago

For first time, a New York neighborhood climbs to top of Forbes list of most expensive zip codes

Brooklyn, Queens inventory lowest in four years, but luxury market in those boroughs relatively healthy

Commercial real estate sector poised for 2013 recovery, moving up to second-best city for investment

Twilight co-star purchases Los Feliz house for

Weekly Roundup: Reports reveal strong sales, weak supply in Manhattan despite increasingly tough standards for borrowers everywhere

Inventory plunges to seven-year low in Q3, sales strong, prices little changed

Streeteasy finds decline in price cuts, time on market compared with same quarter in 2011

Penthouse owner sues board president on claim she sabotaged $27.5 million co-op sale as revenge for rejected lowball offer

Managing agents say residential building in better shape than years ago, but watching pennies

Enduring family feud, Charles Rutenberg Realty has progressive business model making it Manhattan’s 6th largest brokerage

Life as a 20-percenter isn’t a bed of roses, resident of mixed-income building confesses

Landmarks subcommittee blesses expansion of Upper West Side historic district, clearing way for Council approval

Who will be able to claim credit for 95-story Park Avenue tower soon to be constructed?

Pundit frustrated by cable-TV news sells TriBeCa loft above $1.32 million asking price

Actor trades outer space for outside space in $2.5 million purchase of Park Slope duplex

Aerobic exercise fanatic

Weekly Roundup: Supply in U.S. and NYC dwindles, rates keep falling, Oprah takes bath, hell is hoarder at home, Shiller’s glass half empty

Obama slept here, and so can you for $2,400 a month

Median price of new condos up 15.4 percent from year ago, inventory down 19.1 percent

Q2 prices in Brooklyn, Queens edge up as inventory plunges

With prices falling in the Hamptons, sales pick up

Boards only set policies and six other surprises that rookie members may confront

New rental units in the city undergoing shrinkage

New handful of properties set to come on market at $90 million or more

Retired detective names safest, riskiest units in apartment building

Sales volume, property values remain well below peak levels, says NYU’s Furman Center

Number of residential building permits skyrockets, especially in Manhattan

Super rich