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30 late

JG2727
New Visitor

30 late

Hello-

 

i have a mortgage with citizens bank. Due to circumstances I had to pay it late-- exactly 30 days past due. It was due November 1st and I paid it December 1st. This account usually updates to credit bureau on the 3rd of the month. Is there a chance it won't hit as a 30 late mark? 

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Revelate
Moderator Emeritus

Re: 30 late


@JG2727 wrote:

Hello-

 

i have a mortgage with citizens bank. Due to circumstances I had to pay it late-- exactly 30 days past due. It was due November 1st and I paid it December 1st. This account usually updates to credit bureau on the 3rd of the month. Is there a chance it won't hit as a 30 late mark? 


Chance yes.  I think it may depend how it's exactly coded though, it's technically "more than 30 days late" but I don't know if they look at that as 30 days or by month.  I think in your case paying before Dec 2 should be clear, some fee to be paid for it sure but I don't think it will impact your credit report but I'm not quite 100% on that.

 

Actually check on your terms, a lot of mortgages seemingly have grace periods built into them and I'm not sure how that factors in.  E.g my current mortgage is due on the 1st, but it's not marked as any sort of late until I believe the 15th (which I never play games with FWIW, my marginal interest isn't great), and I don't know when it starts the clock for a 30D late.

 

Interesting question, let us know how it turns out please and welcome to the forums!




        
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