Trying to judge the impact that late credit card payments may have on home loan approval. Anyone have experience with this?
Early 40's US National, PR holder, married, 17 years in Japan. Income in Japan is low 8-figures at a large, foreign, corporation. Wife is Japanese, housewife so no income. Own a vehicle and land but no home or car loans. Local builder has done all the legwork to confirm everything is in order as far as my paperwork for my land, building permission requirements (lack of), etc. and they're working on a full quotation for some plans we've drawn up together. Probably looking at 30-35milion.
Obviously want the loan in my name for tax savings. My concern is how a late payment on my credit cards may affect loan approval. Several months ago I had my wallet and phone stolen and I was unable to withdraw from my payment account local shinyokinko and deposit to my main MUFG account where the cards autopay was set up. I filed a police report but not really sure if the credit reporting agencies will remove late payments, regardless of justification. (working on getting a CIC report so I can see what's there to begin with) Any advice or guidance would be greatly appreciated.
by BananaTacoZ