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Problem-Mortgage Payment!!!


abennett
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I have a question for anyone who can help? I paid my mortgage payment late this month because I've been out of town taking care of my father who recently had a heart transplant. I went online on the 29th to make a payment but the online payment center would only allow me to select to make the payment on the 2nd of January. I called customer service who was closed and closed the entire weekend including the holiday. Is there anyway to dispute this being that I didn't know the online payment center wouldn't allow me to make the payment before the 1st and now its gonna show me as 30days late and my credit is A1..........

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Guest BadAccountant

Were you thirty days late or just a couple of days late? It seems to me that if you paid your payment a couple of days late that you would only be a couple of days late not thirty days late. I think most people call customer service to have the late fee waived. Ask, but I don't think this will be a thirty day late.

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It made the payment 30days late......I contacted them and explained and they put it in credit review and are gonna let the credit department look at it so hopefully they will understand. The guy told me the cutoff time was saturday by 330pm. But i paid it saturday morning like 10am so he was making it seems as though I picked Tuesday and I kept trying to explain that it didn't allow me to pick an other day but Tuesday the 2nd. So everyone cross your hand for me.

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You can be 10 MINUTES late (many have TIME deadlines as well !) and they can and do report it as '30 days late'. The 30 days is usually NOT calculated from the due date on your statement, it is calculated from the end date of the billing cycle. By the time you get your statement in the mail, you've already 'lost' a week or 2 (or more) of that 30 days.

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Definitely check with your mortgage company as to how they will report this, if at all. My mortgage documents state that my mortgage company does not charge a late fee unless payment is received on the 16th day past the due date.

This is a good lesson to share, though...that most online payments are not posted the same day.

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If they give you any flack or report you late, write a goodwill letter to the exec offices. In the case of an emergency like a family member's heart transplant (which no one on the waiting list EVER knows when it'll happen, you know?), they will probably waive any fee or late for that month.

I'm very glad to see that your father was able to get a heart transplant. Someone I know from another board was very happy she was able to get hers.

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On credit cards, yes, but not mortgages. The 30 days is calculated from the date due. Anything else would be a TILA/RESPA violation in addition to the FCRA.

Mortgages have especially strict rules that lenders must follow.

You can be 10 MINUTES late (many have TIME deadlines as well !) and they can and do report it as '30 days late'. The 30 days is usually NOT calculated from the due date on your statement, it is calculated from the end date of the billing cycle. By the time you get your statement in the mail, you've already 'lost' a week or 2 (or more) of that 30 days.

And that BS about being in by 3:30. Nope. Mortgage lenders cannot do that unless they close business operations at 3:30. If you wire them funds 1 minute before they close for the day, they MUST post it as received at that time. Mortgage lenders must accept and post payments while their doors are open. If they have 24 hour payment processing, then each business day starts/ends at midnight.

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Well I will get something in the mail from them by the 10th.....I am so stressed it is ridiculous. My credit is excellent. And about the 24hour online payment option. I guess they won't allow you to make payments on the weekends, or holidays. One rep I spoke with advised me that it shouldn't be a problem since they could go into the computer and see I tried to make a payment that morning. But the other 2 reps that I spoke with were very nasty. Thanks for the congratulations on my father. We all were really happy about him recieving the transplant just keep him in your prayers for a healthy recovery. In addition take a look at my thread in the legal discussions, and tell my what you think.

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Same thing happened to me, It let me pay the late fee but not my mortgage payment, since you have to make 2 seperate payments and relog on both, I guess the system shut down early friday.

I tried calling but no answer, no e-mail, and could not pay online after the date because the account is no longer considered current so in the mail it went......east coast to the west coast, they might get it in 2 weeks.

I will take a good hit to my CR just when it was getting clean again with very much improved scores.

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Actually, according to the EQ website, the notations allowed for pmt history are:

OK.....Pays as agreed

30..... 30-59 days late

60..... 60-89 days late

90..... 90 to 119 days late

120.... 120 to 179 days late

CO.... Charge off

So, if a furnisher posts me as "30" when I am only 2 days late, it better be corrected or we could be letting a judge decide.

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Dive, the OP was trying to make a payment 29 days after it was due on a Friday, but the web-payment system wouldn't let him do so. It made him put the payment in on the following Monday. Basically they locked him out of making a payment that day using their system. Hence 2 days late when they actually processed it.

I need to amend my earlier statement about posting payments. They must post the payment the same day they receive the payment. If they don't let you make a payment, they have not received the funds, so they don't have to post it when you tried to pay...only when they have the payment.

Advice for everyone with mortgages. The very first thing you should do when you get a new mortgage or servicer is to call up and ask for their ABA and account for accepting wire transfers. They all have one, even if they tell you to do it by Western Union (which is utter BS - No refi lender is gonna send payoff funds to a Western Union). With that information, you can go to you bank and wire funds and get a confirmation from your own bank of when they got it. Irrefutable proof they got the payment and when.

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