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CBrim73

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Help! $54 Escrw increase caused mtg pyt rptd late-fee waived; refuse to correct credit rpt. Suggest?
Escrow pymt increased $54 in July; only notification was on 2nd page of escrow statement (front page showed previous pymnt amount). Rec'd late notice Aug 5, called, paid add'l escrow immed ($54 on a $2,004 mortg pmnt). Disputed late fee - fee waived but Servicer refuses to change cred report which shows 30 -61 days late. Credit score fell 77 points. Response to my complaint reads in part "CMS is obligated by federal law to provide timely and accurate credit reporting in regard to current loan status and payment history....therefore, we are unable to remove derogatory credit reported for the July 1...."

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Honestly, I would be a little less concerned about my score dipping a little and worry more about the late mortgage payment.  A late payment on your mortgage is not posted unless you are over 30 days behind.  If your mortgage is due on the first; you actually can procrastinate until the 30th of the same month to make the payment; although the company will charge a temperary late fee (that does not report on your credit) if you don't make a payment by the 15th of the month.  If you are having trouble making your mortgage payment within the 30 days it is due; then you may want to restructure your monthly budget and nip this in the bud....... Be mature and focus on the real issue.........  Please don't lose your place because of foolishness...  Also lenders will not refi or give you a chance until you make a year's worth of timely payments past your last reported late charge..........

Reply by
CBrim73

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I made my July payment within the grace period for the month, but it was short $54 because I didn't realize my escrow component had been increased. The July payment was placed into the servicer's suspense (and not applied to my account) until August 10 (or so) when the additional $54 was paid separately. This is my frustration - I am not having difficulty paying my mortgage, I was simply unaware the payment had been increased. Also, 77 points is not a "little drop' it took me from "good" to "poor" and, as you suggest, left me inelligble for a refi (which I'd planned on doing to get a lower interest rate).

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