30 Day Late On Mortgage

[Anonymous]

Hi there,

My Mortgage payment started off at 2800 a month, 6 months I had some financial issues and the mortgage company started paying the insurance and taxes and so they raised my monthly to 4100.

Last month I was $800 short and I pennymac to ask them if they can schedule it for the first of June and not report it as being late, they said they were not able to, so I made a 3,300 payment. They did not however inform me that they do not apply the payment until it is paid in full, so I am currently 49 days late with $3,300 sitting there waiting for the last $800. They do not seem so excited about removing the late payment from my credit report.

Does ayone have any idea if there is another way or getting it off my report. 

[RobertEG]

Many mortgages have a unique provision that incorporates a grace period of 15 days into the billing due date, which effectively extends the legal billing due date for up to 15 days beyond the standard contract due date.

Does your mortgage loan incorporate a grace period that effectively provides a variable billing due date past the "normal" due date?

[rmduhon]

GW letters would be the only way since the late is a valid late, but it probably wouldn't work if you are still behind. And if you can't manage to pay the 800 plus the June payment before the July payment is due you'll stay 30 late, if not 60 days late. Good luck