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Question
LIF Adolescent
Member since 5/05 703 total posts
Name:
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Mortage Payment Question
I have a question about mortage payments -- my payment is due the 1st of every month, but on the form its tells you after the 16th of the month you will be charge X amount of dollars --which is the late fee, OK fine.
But someone told me that if you pay it "on time" for the 1st of the month--it gives you a better credit rating, then paying it during the 15 days after - is this true?
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Posted 8/22/06 11:31 AM  |
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Prudential Douglas Elliman Real Estate
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Mortage Payment Question
Nope-
only late payments that are reported on a credit report are 30+days.
they are grouped 30, 60, 90, etc.
so if you are 59 days late, it shows at a 30.
i would just pay on time all the time so you dont have to worry!
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| Posted 8/22/06 11:33 AM |
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Nicole728
My Happy Girl
Member since 7/06 8198 total posts
Name:
Me
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Re: Mortage Payment Question
Posted by Meaghan729
Nope-
only late payments that are reported on a credit report are 30+days.
they are grouped 30, 60, 90, etc.
so if you are 59 days late, it shows at a 30.
i would just pay on time all the time so you dont have to worry!
agreed
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| Posted 8/22/06 11:40 AM |
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LMFitz
life is good
Member since 5/05 2013 total posts
Name:
L
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Re: Mortage Payment Question
I pay mine the 15th of every month - and have done so for 6 years now. No negative effects yet...
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| Posted 8/22/06 11:44 AM |
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lulugrrl
My 3 Blessings
Member since 3/06 6551 total posts
Name:
L
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Re: Mortage Payment Question
we always pay on the 15th...it has never been a probelm...
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| Posted 8/22/06 11:44 AM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Mortage Payment Question
I pay it on the 12th. No problems here.
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| Posted 8/22/06 11:46 AM |
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Question
LIF Adolescent
Member since 5/05 703 total posts
Name:
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Re: Mortage Payment Question
Thanks.
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| Posted 8/22/06 12:11 PM |
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kaklesmay
Love my baby boy!
Member since 9/05 1151 total posts
Name:
Kim
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Re: Mortage Payment Question
Check this old post out though.
Grace Period
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| Posted 8/22/06 12:41 PM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Mortage Payment Question
I look at credit reports A LOT.
Unless you are paying 30 days or later past the due date, it is not reported on your credit report.
I dont know why in that posted link the mortgage co would report it...
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| Posted 8/22/06 12:48 PM |
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Question
LIF Adolescent
Member since 5/05 703 total posts
Name:
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Re: Mortage Payment Question
Posted by kaklesmay
Check this old post out though.
Grace Period
omg - thanks for posting this. This is what I was talking about. I have to show this to DH - because he didn't believe me.
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| Posted 8/22/06 12:48 PM |
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