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What can you do about a mortgage company that does not report your on-time payments?
Call the mortgage company and ask why the payments are not being reported (its illegal to NOT report payments) Further, you can call the credit bureaus, and they will request the information from the mortgage company. Realize, that in some instances credit reporting can be suspended.
What else can I help you with?
My mother passed away I have siblings and no one has reported her death to the mortgage company we can't afford the house payments is it the law that you have to report it to the mortgage company?
No, once the mortgage company begins the foreclosure process they will find out that your mother is dead. This will not stop the foreclosure process. The only way to avoid that is to make the payments.
Are mortgage companies required to report payments every month?
YES THEY ARE.
Does making extra principal payments to your mortgage have any affect on your credit rating?
Yes, it will shorten the time in which the mortgage is on your credit report.
Can a mortgage company report a foreclosure?
Yes. A foreclosure can be reported by the entity that foreclosed, by the servicing agent for the entity that owned the mortgage when it was foreclosed or by a mortgage company if it held the mortgage when it was foreclosed.
Will 60 days late mortgage payment effect your credit?
It could. It depends upon the company's policy on when to report late payments: some report after fifteen days, some may allow several weeks or months. If you cannot pay your mortgage it is best to contact the company and ask them to work with you during your financial hardship. Doing nothing is usually the worst thing a borrower can do for his/her credit score.
Can a mortgage company continue to report your debt as late after the bankruptcy is confirmed and you have continued to make monthly payments on time?
Payments in the last 12 months are reported on your credit report. The BK 7 and the previously late payments will continue to show on your credit report, but eventually your ontime payments will be the ones showing. You may be able to get a statement that the house was redeemed in the bankrupcy, but all late notices for the past 12 months and/or a notice of foreclosure will remain.
My mother passed away I have siblings and no one has reported her death to the mortgage company we can't afford the house payments is it the law that you have to report it to the mortgage company?
No, once the mortgage company begins the foreclosure process they will find out that your mother is dead. This will not stop the foreclosure process. The only way to avoid that is to make the payments.
Are mortgage companies required to report payments every month?
YES THEY ARE.
How many missed mortgage payments before it is placed on your credit report?
One.
Does making extra principal payments to your mortgage have any affect on your credit rating?
Yes, it will shorten the time in which the mortgage is on your credit report.
Can a mortgage company report a foreclosure?
Yes. A foreclosure can be reported by the entity that foreclosed, by the servicing agent for the entity that owned the mortgage when it was foreclosed or by a mortgage company if it held the mortgage when it was foreclosed.
Will 60 days late mortgage payment effect your credit?
It could. It depends upon the company's policy on when to report late payments: some report after fifteen days, some may allow several weeks or months. If you cannot pay your mortgage it is best to contact the company and ask them to work with you during your financial hardship. Doing nothing is usually the worst thing a borrower can do for his/her credit score.
Do mortgage payments due on the 1st but made before the grace period ends effect credit scores?
As long as your mortgage or other payment is received by the loan company within the grace period which is usually 15 days...it is paid on time and does not show a late payment on your credit report.
Does the lender of a second mortgage have any recourse if the payments become late?
Yes, they will report the late payments to the credit bureaus which will damage your credit score, and if enough payments are missed can commence a foreclosure action on the property.
My mortgage company is asking for explanation on two things that show up on credit report How come three that I know about did not show up on credit report they pulled?
It's possible that you have done business with a company somehow connected with the mortgage company. This being said, they may have some sort of inside information on your payment history in their internal system. Your credit report as you view it is the same as the mortgage company's view so this is the only explanation I can think of.
What form is required to report payments by a company to a self-employed person?
this should be a 1099
How does a private mortgage holder report late payments to credit bureaus?
In order to report information to the credit bureaus, a company or individual would have to become a contributing client of the bureaus. There is an expense involved and there are also federal statutes which must be followed. So, for the most part, private individuals do not report to the major credit reporting agencies.
