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inthematrix

March 1st is 30 days late for Feb?

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Hi guys,

 

I haven't been to the forums in a really long time but I was a fixture here a few years ago when my credit was in the toilet, and you guys helped me get my credit back on track. I'm now a proud homeowner! I messed up last month, however, and I'm really hoping the brain trust here will have some good advice for me. Last year when I was caring for my ill brother I let my mortgage hit 30 days late a couple of times and it ended up on my credit report (no excuses, just context) and after he died I was vigilant to make sure I didn't pay my mortgage that late again.  I've been paying near the end of month because that's when most of my clients pay me (for the record I almost always add $200 to my payments towards the principle). I know paying near the end of the month is a disaster waiting to happen, and a couple of weeks ago it struck. I was traveling and after midnight on 2/28 I woke up in a panic. I hadn't paid my mortgage. And now it was the 1st (because February). I jumped up, went online and paid it (another for the record, I went ahead and paid for March too so THIS month when I pay near the end of the month I'll be paying ahead and not almost late. I thought I'd caught a lucky break to screw up on the Feb payment because it WASN'T 30 days late. I paid on day 29. It just happened to be on March 1st (barely).  Of course, today I get a credit alert and I see "Freedom Mortgage 30 days late." I thought maybe the payment didn't get credited for a few days, but I looked it up and they show both payments made 3/1.

 

So I called them, explained my thinking - the credit report is not accurate. It says  30 days late. I was not 30 days late. They say (in essence) you can send an email to customer support and/or dispute it with the credit bureau but once it reaches the 1st we call it 30 days late even if It's after February.

 

Are they right and am I out of luck? Does anyone have any advice for me on how to rectify this?

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for reporting late is 30 days regardless of the calendar month. the servicer might charge for being late (IIRC some charge late fees if you pay 15 days late). So your due date was 2/1 and the payment was posted 3/1?

 

Given your situation, you may want to try a goodwill letter to the loan services with details of everything you were going through last year with your brother. good luck.

Edited by hegemony

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As heg suggests, a goodwill adjustment to remove the delinquency notation is what you want to seek here.

 

I wouldn't dance around the fact that the payment wasn't a full 30 days late; the material fact that you didn't make a payment prior to next month's payment being due is going to dampen that defense.  You may be technically correct, but you're not likely to get much traction on that count. 

 

You're better served by a personable, agreeable letter that matter-of-factly establishes that there was a hardship, acknowledges the lapse, and that you've brought the account fully current; you be very gratified if they could extend an adjustment given the circumstances to remove the late mark.

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