Mortgages are stressful enough, let alone if you miss a payment. Recently, a lot of loans have been transferred to different service providers. You will get a notification in the mail letting you know, unfortunately the letters often look like junk mail. If you accidently throw away the notification letter informing you of your new mortgage provider, you will miss your first monthly mortgage payment which causes a late payment. ONE LATE PAYMENT can cause your credit score to drop almost 100 points.