06/18/2026
Mortgage Term of the Day:
A mortgage becomes delinquent when a borrower misses a payment.
📅 Even being just one day late can count as delinquency—though most lenders offer a grace period.
💳 If the loan stays delinquent, it can lead to fees, credit damage, and even foreclosure.
Always communicate with your lender if you're at risk of missing a payment!