topic Re: Mortgage company is reporting a 30 day late......feeling overwhelmed. in Rebuilding Your Credit

Mortgage company is reporting a 30 day late......feeling overwhelmed.

tryingtogarden04 — Tue, 21 Feb 2017 21:12:36 GMT

Carrington Mortgage did not process my January payment until February 2nd because no payment processing is done on the 1st. I made my payment January 31st. I received an alert about my credit score- it was dated 2/19/17 and is a 30 day late from Carrington.

This company has misapplied my payment before and now this. I called and they won't remove it. 8 years of on-time mortgage payments and now this 1 late.

I'm so overhelmed. I'm trying to rebuild my credit. But this late mortgage payment really has me concerned, frazzled, upset....just all the bad emotions.

My credit in a nutshell at this time:

My credit score is about 565.

Oldest credit line is 10 years.

2 current on-time credit cards (one paid in full, one with automatic payments)

4 delinquent accounts (federal student loans) but currently on-time as of February

2 closed charged off accounts

I was hoping to do some magical, intense gardening and increase my score to the 600's by 2017's end but I feel so defeated and unrealistic.

This really ruined my day.

Where should I start?

Re: Mortgage company is reporting a 30 day late......feeling overwhelmed.

Anonymous — Tue, 21 Feb 2017 21:52:03 GMT

How late was your payment had they processed it on the 31st? Have you tried calling them?

Re: Mortgage company is reporting a 30 day late......feeling overwhelmed.

tryingtogarden04 — Tue, 21 Feb 2017 23:11:53 GMT

By paying it on the 31st, had it gone through, they would not have considered or reported it late. I did call and speak to someone, they were less than helpful and basically said it didn't clear until the 2nd so the late reporting is accurate and deserved.

Re: Mortgage company is reporting a 30 day late......feeling overwhelmed.

RobertEG — Tue, 21 Feb 2017 23:27:13 GMT

If you did not make your January payment until some time in February, you were late under your account agreement.

However, whether or not it is also a reportable late to a CRA cannot be determined without knowing the actual due date of the January payment.

A late is not reportable to a CRA until it reaches at least 30 days past the billing due date.

A billing due date of Jan 1st would be reportable.

A billing due date of Jan 4th would have been less than 30 days late on Feb 2nd, and thus would not be reportable.

What was the actual billing due date of the late payment?

Re: Mortgage company is reporting a 30 day late......feeling overwhelmed.

tryingtogarden04 — Tue, 21 Feb 2017 23:38:40 GMT

Billing date is indeed January 1st...by sending through my bank, the mortgage company didn't get the payment same day electronically as I'd hoped.

How much of an impact is this late? I've had the mortgage for 8 years with every payment on time, except for this one.