Financing in Brownwood>Question Details

Canongirl, Home Buyer in Brownwood, TX

Mortgage payment was due on May 1. Payment was pd. on May 31, w/extra $2,500 principal payment. Will I be reported as 30 days Late?

Asked by Canongirl, Brownwood, TX Mon May 30, 2011

Help the community by answering this question:


As long as your payment posted on the 31st it would not count as a 30 day late. If you sent in two separate payments or checks the regular payment needs to include your late fee.

I would call your lender ASAP to discuss and make sure everything was accounted for correctly and also make sure that the payment was received on the 31st.
0 votes Thank Flag Link Tue May 31, 2011
The best thig to do is speak with you mortgage company.
0 votes Thank Flag Link Mon May 30, 2011
Impossible to say. That depends on your lender. Also, your lender will take the late fee out of the $2,500 extra that you paid.

Contact your lender for more information.
0 votes Thank Flag Link Mon May 30, 2011
Don Tepper, Real Estate Pro in Burke, VA
As long as it posts before your next statement cycle, you should not be considered 30 days late. I can't speak for sure about your bank, but I worked at two different banks and the concept of 30 days, 60 days, etc. always applied to months. When you miss your first payment you are in the first delinquency bucket, which is 1+ days delinquent. When you miss your second payment, you move to the second delinquency bucket, which is often referred to as 30+ days delinquent.

Since you paid before you cycled for the second time, you should be back to current on the 31st, but have a payment due the next day for June.
0 votes Thank Flag Link Mon May 30, 2011
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