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Bank of America - late payment

Valued Member

Bank of America - late payment

There was confusion on our mortgage payment and we ended up with one 30 day late.  We were thinking of selling and buying a home this summer but with this huge hit to our credit, I doubt it will be possible.  I've been told that banks will do a goodwill adjustments on mortgages sometimes.  I checked on their website and found this information on adjustments  GoodWill.

 

Has anyone every had them make a goodwill adjustment?   I am going to offer autopay in return for the adjustment.  The last time I talked to them about equity loan, the guy humiliated me and made feel terrible for even daring to ask.  I'm not eager to call there again if there is no chance.

 

Thanks for any help.

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Starting over...06/13/2015
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Moderator

Re: Bank of America - late payment

When was the late payment?  

 

If the payment was more than 12 months ago, I think you will be okay.  If it was very recent, but you have a long history of payment on time, it may be possible to overcome - I don't know for sure. One of the LO's will need to respond.

 

 

 

Get referrals from your Realtor and your friends and family as to who they used that they were happy with when they got their last mortgage. 

Message 2 of 4
Valued Contributor

Re: Bank of America - late payment

How recent the late is, is pretty important.  As stated above if it was less than a year that will be a problem.  Rather than offering automatic payments in return for goodwill I would establish automatic payments now, that way you can point out that the late was an oversight and you have taken action to ensure this never happens again. Offering it up in return for goodwill doesn't sound quite right to me. Make it easy for them to say yes.

Gardening till 2018, Goal of 700's by the end of 2017
MyFico Scores Aug 2017: EQ 675 TU 695 EXP 698
Message 3 of 4
Valued Member

Re: Bank of America - late payment

The late payment was last month.  I'll try and sign up for auto payments and ask if they will remove it because of the oversight.

 

Thanks for the help.

Capital One Quicksilver | Capitol One Platinum | OverStock | Gamestop
Current 9/28/16 Experian 659 Equifax 646Transunion 633
Starting over...06/13/2015
Experian 537 Equifax 544 TransUnion 525
Message 4 of 4