I have 2 payments to my lender that were 31 days late (30+ gets reported). I have tried talking to managers on the phone, writing a professional letter, and offering to guarantee that I refinance my loan with them when my interest rate fixed period ends in a year, and they simply refuse to help me. I am trying to get a home equity line of credit to do some home repairs, and I am finding it nealy impossible to do so with 2 recent mortgage lates. My LTV of over 90% doesn't help things, but if I could get those 2 lates removed, I'd qualify for loans that go up to 100% LTV. If anyone has any ideas or suggestions as to what I can do to try and get those lates removed, I'd greatly appreciate it. Thank you, in advance, very much for your time.
2006-10-25 09:21:09 · 6 answers · asked by duvie16 1 in Business & Finance ➔ Credit
Unfortunately, only the creditor can have them removed. Late payments on a mortgage are serious. If you truely feel that they are in wrong you can request your payment history from the creditor and go from there. More than likely, its not going to happen. You're going to have to make timely payments for a long time now and have a really good reason the next lender that is considering a refinance.
2006-10-25 10:23:34 · answer #1 · answered by Abbi G 2 · 0⤊ 0⤋
Yes, you can ask the lender to remove the late pays as a goodwill gesture in return for all the years of paying on time.
If that doesn't work, you can dispute the late pays with the credit bureaus.
Use this free credit repair kit!
You can download the book and 20 letters free:
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Also refinancing your mortgage with 2 late payments is difficult if you go to a strict lender, click here to find one that will help....
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2006-10-25 10:42:07 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Since you were late --then the Fair Credit Reporting Act will not help you. Take your medicine. Sorry. Yes you can dispute the reporting but if the lender responds then you will not get it removed. You are now possibly a sub-prime borrower.
I am a mortgage banker
2006-10-25 10:02:51 · answer #3 · answered by golferwhoworks 7 · 0⤊ 0⤋
you are able to dispute the previous due fee with the three credit bureaus. deliver each and all the bureaus an authorized letter putting forward that the employer is reporting misguided suggestion to the bureaus as you have by no potential been previous due on a value. Investigations from the bureaus can take in to 40 5 days to end and you will be able to might desire to deliver a 2d, third, 4th, or maybe 5th dispute to the bureaus. you additionally should deliver an authorized letter to the compnay reporting the previous due fee telling them you haven't any longer been previous due and spot in the event that they respond with a courtesy letter putting forward they are going to substitute the way they're reporting to the bureaus to mirror on-time money. it quite is conceivable to have the previous due money faraway from Equifax, in all likelihood from TransUnion, yet you will better than in all likelihood might desire to attend 7 years for the previous through fall off of Experian. stable success!
2016-12-28 04:55:34 · answer #4 · answered by boynton 3 · 0⤊ 0⤋
One option that works often..
get copy of credit report...contest the late payments.
if you mortage company does not respond to credit bureau then those late pmts will be erased....
refinance home with another mortage company...I doubt they will care about two late payments...
2006-10-25 09:31:11 · answer #5 · answered by cork 7 · 0⤊ 0⤋
only if you weren't late.... or can reach a really really really nice person at the lenders office who will write the credit bureau for you....and good luck there...
2006-10-25 09:24:48 · answer #6 · answered by lisa n florida 3 · 0⤊ 0⤋