Being one day late on your mortgage payment may have consequences. Specifically, late repayment of mortgage loans will cause the following problems:

1. Increase in interest: After the mortgage loan is overdue, banks will usually calculate interest based on a certain overdue interest rate, which means you need to pay more interest. A day late on a loan may seem insignificant, but each day you are late will accumulate interest, ultimately increasing the cost of repaying your loan.

2. Damaged credit record: Banks will report overdue mortgage records to credit bureaus, which will have a negative impact on your credit record. After your credit record is damaged, you may be restricted or encounter higher interest rates when applying for other loans, credit cards and other financial services in the future.

3. Legal risks: According to relevant laws of our country, overdue loan repayment may cause legal disputes. Banks have the right to take legal measures to pursue repayment, such as court prosecution, enforcement, etc. Not only does this increase legal risk, it can also cause unnecessary trouble and stress to individuals.

To sum up, while being one day late on your mortgage payment may seem minor, it can result in increased interest, damage to your credit history, and legal risks. Therefore, we should develop a good habit of repaying loans on time to avoid unnecessary financial and legal problems.

Extended information:

According to Chinese law, banks and borrowers usually agree on the repayment date and overdue interest rate when signing a loan contract. After one day of late mortgage payment, the bank has the right to charge overdue interest based on the agreed overdue interest rate. The overdue interest rate is usually a certain percentage higher than the normal interest rate. In addition, according to regulations of the People's Bank of China, banks are also required to submit the borrower's mortgage information to personal credit reporting agencies to form a credit record. This means that the borrower's late repayment behavior will be recorded on the personal credit report and may have an impact on the borrower's credit rating in the future.

In addition, please note that the above answers do not constitute legal advice. When encountering mortgage-related issues, please consult professional institutions or legal professionals to obtain accurate legal advice.