Monthly Archives: April 2013

How Long Does a Late Payment Stay on Your Credit?

LAte payment hurts credit report

LAte payment hurts credit report

Ever made a late payment on a bill? Maybe forgot about your credit card bill? Or have you ever been a few weeks late on your car note when money got tight? Are you looking now at a big purchase that’s going to require credit and you’re wondering how that late payment is going to look?

The Equifax Finance blog answers these questions and more in the recent post “

FAQ: How Long Do Late Payments Stay On My Credit Report.”

The article explains that positive information (like early payments and on-time payments) can stay on your credit report forever; but negative information (like that late payment) could stick around for seven years. Bankruptcies will generally stay for 10 years.

If you are concerned about what may be in your credit report, the Equifax experts recommend checking your credit report. This will tell you what you need to know about your credit now and where you will stand in terms of getting new credit; and will be starting board for building or repairing your credit, if necessary.

Check out the Equifax Finance blog to get more answers to your credit questions, and other topics like finance,

identity theft insurance, real estate, taxes and more.

CNN Money Ranks Carolina Markets as Best Buys

Asheville real estate market

If you’re looking to buy or sell a new home, some real estate markets have recovered better than others. Recently, CNN Money ranked their top five markets for buyers, and two Carolina real estate markets made the list.

Coming in at number one was southern South Carolina, which includes towns such as Beaufort, Hilton Head Island and Charleston. Currently, homes are averaging 156 days on the market and being listed at $269,900. This means that buyers have a longer time to shop around for their perfect home, although they shouldn’t expect great deals to stay on the market as long.

The Asheville market makes the list at number four with 146 days on the market on average and a median listing price of $249,900. Housing here still remains inexpensive especially considering that the city consistently ranks as a top place to live. However, those looking to buy will find that inventory has dropped significantly over the past few years.

For the full list from CNN Money, click here.