Late Pays?

Question

I have two mortgages on my house with First Franklin. I got sick last year the week we bought the house. I wasnt able to work, and eventually lost my right leg. Because of this, we were late on the motrgage the first month, over 30 days. My wife took on a second job to make those payments. But we still paid those late every month. They rewrote the terms of the mortgage in July, to bring us up to current status. But the damage is done now. We have 8 -30 day late payments now showing on each acct. Is there anything that we could do to get them to remove some or all of those lates? Any positive help will be appreciated. I have had enough grief from being sick, so please, no negatives, Thanks.

First Franklin said that its my problem. I paid late. End of conversation.

Answer 1

I agree with Miss K - contact the mortgage company and explain the situation then ask for goodwill from them in removing the lates.
If the first person won't work with you, move on up the ladder to the next (even if you have to go to the top)

The bad thing about putting statements on your credit reports, like one poster mentioned, is that many times when the negative info is finally removed - the statements usually remain.
Then you would still have it on your reports that you had problems and you would have to fight the CRA's to get them to remove the statements.
And, as far as that poster stating the length of time late payments report, they do not stay on reports for only 2 years, they remain for 7 years from the date of the late.

Answer 2

I'm very sorry to hear about your situation. I hope you are doing better!

Actually, getting the lates removed is unlikely. Yes, life happens and people still understand that, but the bank/mortgage company must report fairly for everyone.

I would suggest that you write a consumer statement, though. It's a brief description (it has to be 100 words or less) that you can submit to each credit bureau. The statement should explain your hardship and that way when other creditors look at your report, they'll know why the 8 30-day lates are on your report.

Don't fret! The payment history only stays on your report for 2 years, so they will eventually fall off. (I'm talking about the area on your report that lists the 30/60/90 day lates and reviews your payment history for the last 24 months).

I hope that helps....
Peace love and light!

Answer 3

Sorry to hear of your bad times.
You can dispute any information in your credit file through the bureaus. I realize they are legit late payments, but it is possible to get them removed. Not guaranteed, but its worth a shot. You can do this online through all 3 bureaus. Get your free reports at annualcreditreport.com and follow the dispute link in each report.
When you file a dispute, the credit issuer has 30 days to respond. If they do not respond then the file gets updated as you specified, in this case the late payments deleted. Just keep at it and eventually they may come off. I know it doesn't sound promising, but this is your best bet. I've succeeded in getting valid negative information removed in the past on many occasions. This one is a little harder because it's an open account with an active reporting. But it is still possible. Keep in mind that as these late payments age, they affect your credit less.
Another thing I would try, if you haven't already, is reasoning with the mortgage company. Write a letter to them explaining the situation and see what they say. It could work.
Whatever you do, just be persistent. Nobody likes a squeaky wheel.
Best of luck to you.

Answer 4

You could write a letter to the mortgage company (or call) and explain the circumstances and ask them to remove the late payments on your credit. Hopefully they will be willing to do that for you.

Answer 5

www.creditinfocenter.com and a Contract Lawyer to help
you look over those fine print loan papers !!!!