Itching at the bit....

[George2037]

I'm supposed to go to settlement on the 28th and my Leasing Office just told my Broker that I've been 30 days late 12 times this past year, I pay on the 5th and it's due the 1st (5days late).  I went to the leasing office and they said they have to report lates doesn't matter if it was 5 days or 30 days.  I've got an appointment with his Regional Manager in 2 hrs and can't wait to get this straight, it's a do or die for me on this one stupid issue.

Not to mention I have AFNI still reporting on EQ even after DV sent in Nov. and itching to send that to CRA's.

Also I have a "Reported in Error" letter from Comcast and itching to send that in to CRA's.

But don't want to do anything until I have underwrighting.....

[fishbjc]

Same thing happened to a friend.  She got a letter stating the loan was NOT 30 days late, just a couple of days each month and it wasn't a problem.

IMHO, that's just plain ridiculous of them to report you for a couple of days. 

[George2037]

I know It's frustrating.  I just got off the phone and got them to send a letter that I have been a resident since May 2005, my current lease expires June 2008, and my current rent is $837 a month.  Hopefully that works.

Their explination is it's their policy to report all payments late after the 5th, no matter what the lender is asking for (any 30 day lates).  I came 2 words from being locked up on my way home, but I have to see if that letter works first before I strong arm them   The one leasing agent got frightened when my 6'-0" / 285lb self walked in there frustated yesterday, he really doesn't want me pi$%ed, lol

[fishbjc]

A.   That's Plain Ridiculous.

B.  Is that spelled out in the lease?

C.  I'll bet that 75% of the residents have a few lates on the CR's...

[George2037]

A. Totally agree.

B. Unfortunatly I just looked and If paid after the 5th it is concidered late (guess i should have read that 3 years ago).

C. I know for a fact just about 75% have them.

P.S. ~I just got home and there was a Manager Memo stuck in everyones door reminding them that if paid after the 5th they will be concidered late....wonder why they did that?

[fishbjc]

Tell them to make up their minds.  Five days is Five days.  If it's due on the 1st and you pay on the 5th, that's FOUR DAYS.  So, do they report ALL LATES or just FIVE DAYS? 

So, they report to all 3 CRA's?

[fishbjc]

I wonder if they stuck those memo's on everyones doors to shake them up.  Do you know, for a fact, if it's LEGAL in your state for them to report that as late?

I remember my sister renting an apt & everyone was charged late fees right after the due date.  Someone sued because the law in Oh, said they could not charge lates on rentals until the 5th day.  So you never know.  This was a while ago, but made headlines everywhere.

[George2037]

No they don't report the the CRA's, but when asked for Rent Verification they told them I was late 12 times in the last year.

State of Mayland it's 5 days so on the 6th it's concidered late.  I get paid on the 5th so after work I drop the Check off at the Office and I guess since they don't get it untill the morning of the 6th I was concidered late.

I talked them into sending a letter that I have been a tenant since May '05 and how much my rent is, without mention of lates.  Still waiting to see if that was enough.

Forgot to mention that about two months ago they sent out a memo threatening everyones Credit if they didn't pay their rent.......I guess they didn't know that one of us has become a Debt Collection guru    If everything falls through because of them I have a nice letter ready for the local news, and a copy of the memo for all to read.

Message Edited by George2037 on 02-15-2008 04:36 AM

[fishbjc]

Well any loan officer with half a brain can see that you weren't 30 days late.  Crikey. 

I really loathe strong-arm tactics.

[George2037]

Well aparently the lender can't see the differance between 5 days and 30 days either.  Everything just fell through, unless I can find someone to lend me $155K in 18 days I'm pretty much screwed.

Gonna go have a case a beer tonight.