mortgage

[Mrfuzz24]

on april 3rd 2013 i reciev ed aletter that my loan was matuyred on march 31 2013  icalled mortgage company to find out whats going and found that i had aballonn payment i tried to get a refinance but they would not work with me  i had paid off acouple of loans to help  my score and continued sending my mortgage payment unit i could  get a refinance buthey returned my checks because it was not the full payment  i caaled them after i went to my credit union and they said they would help me  after i paid them off they reported me late on payments and dropped my score a 100 points they still have not reported loan paid off  and i dont believe that should have any late payments when they refused payments that i sent . they are punishing me for doing  the right thing. 

[ShanetheMortgageMan]

Unfortunately the fact of the matter is you had a balloon payment, and that payment is the remaining amount of your mortgage balance.  Anything less than the remaining amount of your mortgage balance often isn't accepted, because lenders don't take partial payments... you need to pay it all at once.  So since you didn't make your full payment on time, they have the right to report you as late.

If that mortgage has since been paid in full, then they should report it as a $0 balance but the late payments will still remain on credit.  I'd be thankful that you were able to refinance it, as most lenders will not refinance you if you are past due on the mortgage.