topic Re: GW Letter for Mortgage Late Payments? in Rebuilding Your Credit

GW Letter for Mortgage Late Payments?

Anonymous — Wed, 10 Jun 2015 06:04:57 GMT

Hey all,

I'm curious if anyone has had any luck getting some late payments removed by a Mortgage company? I switched positions/employers last year in June/July and the job change, while near doubling my income and such required some pretty drastic shortterm changes. I had to relocate the whole family overseas and rent out our home, etc. Based on changes in my "paycycle" (went from bimonthly to one paycheck a month) I basically went without a paycheck for almost two months with significant additional expenses in the shortterm due to the move, fixing up the place for rent, etc.

When I originally realized what was going to happen I contacted our Mortgage company in advance to find out if I could setup some kind of shortterm payment plan or the like. Submitted the whole package, etc. with a letter of explanation and the like. The request came back denied (theoretically I was told FHA denied it not the Mortgage company). In the end I didn't really have another option but to not make the payment for two months and then caught up the whole thing, made the late payments, late fees, etc. all caught up now and our mortgage is back on autopay.

This whole thing is my only baddie on my entire report (minus a 7 year old 30 day on a closed store card that is set to roll off this September) but due to it being Mortgage related and such I'm finding myself being denied even with scores over 700, AAoA 4 1/2 years, income of 200,000-250,000, etc.

Is it worth a try? Or is it not something they can or would be willing to do?

Re: GW Letter for Mortgage Late Payments?

gdale6 — Wed, 10 Jun 2015 14:30:21 GMT

There have been successes with this. There is always a chance and its always worth the shot. You may have to send more requests than one. I suggest they be mailed to the office of the CEO at least once every 2 months until you get what you are after. Good luck

http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/GW-letter-Q-amp-A-Examples-and-GW-Success-Stories/td-p/1573680

Re: GW Letter for Mortgage Late Payments?

BallBounces — Wed, 10 Jun 2015 15:18:56 GMT

I have a quite compelling reason for my lates, and I have writtent to executive officers and V levels twice. I received a direct personal response each time - and NO goodwill. (Did you know by law they can noit misreport info? sigh)

Keep trying, but it is not magic and it is not gauranteed success. It may take 10 attempts, and it may never happen. Just be careful that you don't literally SPAM them....

Re: GW Letter for Mortgage Late Payments?

Anonymous — Wed, 10 Jun 2015 17:04:25 GMT

So out of curiousity of what they would say I called the mortgage company. Theoretically according to the CS rep I spoke with the company policy is to not change or reverse anything on credit reports. Okay, written letter time. Wish me luck.

Re: GW Letter for Mortgage Late Payments?

BallBounces — Wed, 10 Jun 2015 21:37:44 GMT

Good luck, and may you have measured peristence.