When does the bank consider payment 30 days late?

[Fleuriste]

Husband made a payment on 5/1 on a mortgage that I cosigned which was due on 4/15, which was within the grace period.  Unfortunately, payment bounced and that showed up on the account on 5/11.  By shear luck, I checked the account tonight, and found the NSF check.  Loan is with WF. I tried to call them, but their mortgage phone lines were closed.

So, question is, by my calculation, the 30 day late would be Monday, since I believe from what I've read that you start counting the day after the due date.  Assuming I cannot take care of this over the phone tomorrow, am I screwed?  Or if I get it paid on Monday are we okay?

[JGGM]

I could be wrong, but aren't all mortgages due on the 1st and late after the 15th? Meaning the mortgage would now be +/- 42 days late now? 

[rmduhon]

@JGGM Mortgages can be set to have a different due date, although the 1st of the month is the most common due date.

[Fleuriste]

---

@JGGM wrote:

I could be wrong, but aren't all mortgages due on the 1st and late after the 15th? Meaning the mortgage would now be +/- 42 days late now? 

---

This mortgage is due on the 15th of the month, with the grace period extending to the 30th.

[rmduhon]

If the grace period goes to the 30th, then by paying on the 1st you are late as far as Wells Fargo is concerned. I'm not sure about when the reportable 30 day is though.

[Fleuriste]

I know that the payment is late.  My concern is whether I'm in time to avoid a 30 day late being reported on my credit.  I apologize if my original post wasn't clear.

[rmduhon]

I was making sure because your first post said it was within the grace period.

[JGGM]

---

@Fleuriste wrote:

I know that the payment is late.  My concern is whether I'm in time to avoid a 30 day late being reported on my credit.  I apologize if my original post wasn't clear.

---

If it's due on the 15th then I would think you have thru today to pay it?? Not really sure, I've never calculated it down to the day. 

[Fleuriste]

They waived the late fee because the 15th day was a Sunday. Obviously, the late fee has been reinstated. 

I believe from what I have read that late day one would be the 16th, which makes today the 29th.  Once my husband gets up, if we can establish that he has adequate funds in his WFchecking account, then we are in the clear.  We can pay today and it will clear.  If he doesn't, then I will insist on paying from an outside account, but this gets dicey since the payment wouldn't post until tomorrow.

[gdale6]

Tomorrow is the 30th day, if there is any way to get the payment ball rolling today I would do so if not first thing in the morning give them a call and take care of it asking that the late not be reported as you could not initiate on a Sunday.