3. Not paying your mortgage on time
Mortgages typically require 15 to 30 years of payments, so that a large portion of your financial life you have to take into consideration. And while there will be occasions where something comes up that means you might be a little short of cash, the thought of just skipping that month’s payment might not seem like such a big deal.
However, it is important to make sure you always pay your mortgage on time. Not just to always be financially ahead of yourself, but because there is one thing most people don’t take into consideration, failure to pay your mortgage on time can have a devastating effect on your credit score.