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Hi Everyone

I have lived in my house for 10 years this is the 1st time I have been late. What happens now. Do I mail the late charge with my payment. If it is within 30 days am I ok. Dose 30 day late mean the 1st of the month or the 15 of the month like my cupon says.

I have credit card dept that I do not want to be late on an have a rate hike to 30% on cc

what happens if I run within 30 days late on my morgae every month I have no problem paying a late charge.

Me an my wife have been layed off.

Thanks

Steve




If you are late every month with your mortgage payment, your credit score will plummet. Some employers do a credit check on prospective employees. I would call the credit card company and see if you can make some kind of arrangement with them. Your mortgage and utilities and food should be your priority - always.

You should call them and tell them you will be mailing payment with late charge. Always keep them in the loop...

Sub: #1 posted on Tue, 07/20/2010 - 11:01

aubrey aubrey
Moderators Cum Industry Expert
(Posts: 1204 | Credits: )

Quote:
Originally Posted by Anonymous
Hi Everyone

I have lived in my house for 10 years this is the 1st time I have been late. What happens now. Do I mail the late charge with my payment. If it is within 30 days am I ok. Dose 30 day late mean the 1st of the month or the 15 of the month like my cupon says.

I have credit card dept that I do not want to be late on an have a rate hike to 30% on cc

what happens if I run within 30 days late on my morgae every month I have no problem paying a late charge.

Me an my wife have been layed off.

Thanks

Steve


The only think you can do is call them and ask.

Sub: #2 posted on Tue, 07/20/2010 - 11:29

ball_mich ball_mich

(Posts: 360 | Credits: )

[quote]If it is within 30 days am I ok. Dose 30 day late mean the 1st of the month or the 15 of the month like my cupon says.[/quote]Typically the late charge is applied on payments received after the 15th of the month. You have 15 days grace period to schedule your payment with no penalty. If you go beyond that date a charge applies, simple. Since payments are usually do on the 1st of each month, the loan company can report your mortgage account to the credit bureaus after the 30th of the month if no payment has been received. So I would not recommend paying your mortgage late every month with a late charge, because their can also be other consequences that could apply. Some companies track late payments as well for their records. You should call your loan company and clarify.

Sub: #3 posted on Wed, 07/21/2010 - 09:24

Cool_Abyss Cool_Abyss
Moderators
(Posts: 2936 | Credits: )

I called the bank they said I can be late evey month as long as I do not go to the 1st of the next month. Just pay the late charge .... They will not report to credit report....Whw cares about credit score theses day I have 750 an it is useless to get a loan or refinace

Sub: #4 posted on Wed, 09/15/2010 - 09:10

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