As a mortgage professional, I am frequently asked about the effects of mortgage lates and foreclosure on credit scores. CNN.com has a pretty good article regarding this.
Per Fair Isaac, your credit score will take an average hit of 40-110 points for a 30-day mortgage late payment, 70-135 point hit for a 90-day mortgage late, 85-160 point hit for a foreclosure, short sale, or died-in-lieu, and a 130-240 point hit for a bankruptcy.
Pretty scary stuff, especially if you have other derogatory accounts, but good to know.
Mann Mortgage, LLC
Encinitas, Cardiff By The Sea, Cardiff, Carlsbad, Oceanside, Vista, San Marcos, Escondido, Solana Beach, Del Mar, San Diego La Jolla, Rancho Bernardo, Poway, Mira Mesa, Pacific Beach, UTC, 11230 Sorrento Valley Road Suite 225 San Diego CA