Loans Glossary - Delinquency

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Loans Glossary

Delinquency

What is Delinquency?

The term Delinquency is used each time when a borrower misses or is late with the payment.

In different areas delinquency is reported at different times for example if your late 15-30 day with your credit card billing, or if you missed two payments then the lender can turn to the credit bureau. If your late with your mortgage payment even though your not getting a penalty fee just after a few days it's still considered as delinquency.

Defaults

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