Will I be reported negatively to the credit bureau?

Question

I have a 15 day grace period on my mortgage payment. If I send the payment in during this period instead of on the exact due date, will I be reported negatively?

Answer 1

No

Answer 2

Pay within the grace period and you are okay. If you have 15 send it no later than about the 12 day to insure it gets there. If you are late one day, there is a high probability it will show as a late. A couple of lates over a seven year period will not make much of an impact. Non payment is what hurts your credit the most, even if it is trivial like say $10.

Answer 3

No. You are only reported once you go 30 days beyond your contractual due date. For example, if your payment is due January 1st you are only reported if you don't make a payment by January 31st. Let's say they receive the payment in on the 20th. You will have to pay a late fee for going outside your grace period but you are NOT reported late to the credit bureaus. Of course if you pay within the "grace" period you are still ok.

Answer 4

Generally a negative report to a credit bureau is done on accounts and loans that are over 30 days past due, so you are okay. Thank goodness for grace periods.

Answer 5

No. Lates are reported once they are 30 days late. You will still have a late charge if you extend past the grace period but anything less than 30 days late is marked paid as agreed.

Here is some additional info. Hope this helps.

Answer 6

It is up to the mortgage company if they will honor your grace period, but most companies will only report adverse payment history if it is more than 30 days late.

Answer 7

You are fine...even if you were late (by a few days) & its not a habit they arent going to report you.

Answer 8

no

Answer 9

no.