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newtaragon

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Missed Vs Late Payment?!?
Due to a issue with a recurring payment that expired without notice, I did not make a mortgage payment until the following month when the problem was brought to my attention. I immediately paid that payment, plus the payment that was due. But the mortgage holder is reporting the first payment as "missed" and the second payment, which was not even late, as "unknown".

Is there a difference between missed and late? Am I splitting hairs? All payments that were ever due have been paid. I am not behind at all.

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Also, 

You should be checking that your autopayments that you have scheduled are being sent every month.   I go over my budget and check off the items as they are sent weekly. 

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Call your mortgage company up and get a Sr Level person and explain the issue.  see if they can fix.  Better to have unknown other then a missed,  but if you can get the missed changed to unknown and then unknown change to ontime or OK then you should be ok.

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Missed Vs. Late Payment

I missed a mortgage payment years ago (didnt have the funds) The following month I made a payment and continured to do so every month on time for years. Unfortunaley, the mortgage co. considers me late EVERY month for 2 years because they apply my monthly payment to the prior month every month which of course makes me late on the current month. 

While they consider they're report to be according to Company policy, I have to disagree. First off, theres 2 options, missed & late. I think they speak clearly. your either late or you missed it completely. The consumer should be the only one to dicate or direct where there funds go.

That said, I missed a payment & then I paid the next month on time. I mean really, If I missed 1 payment and then paid ONTIME for TWO YEARS! Which senrio fairly describes my credit??? My credit shows me as being late EVERY month! clearly I deserve to me compared to someone who actually pays late every month when I pay every month ontime. That said, isn't that why they have a MISSED payment option in "addition" to a late payment. ???

Please explain the difference between late and missed payments and how it can be possibly fair to rate me badley while I continue to make ontime monthly payments for years Vs. someone whos actually late every month? How can I possibly get negitive "credit" remarks monthly for paying ontime EVERY month when I actually only ****ed one payment?

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