Anonymous asked in Business & FinanceRenting & Real Estate · 1 decade ago

when am i considered 30 days late on my mortgage payment?

Like most my payment is due on the 1st there is no late fee until after the 15th. So my question is whether or not 30 days late is the first of the next month(after the payment was missed) or the 15th of the next month since technically there is no late fee until the 15th of each month? I called my mortgage company and talked to two people and one said the 1st of the following month and the other said the 15th of the following month.

5 Answers

  • 1 decade ago
    Favorite Answer

    Since your due date is on the 1st, you would be considered 30 days late the next month on the 1st. The 15th is just a grace period for your payment to arrive before they charge you a fee for being late, but the 15th is not your due date, the 1st is.

    Source(s): Working in the banking industry for over 12 years.
  • 4 years ago

    Try to avoid that with the next payments. Whether 29 or 30 days, it's simply too late... With the utmost probability you have to pay the late fees as well as get reported for paying late. If this happens a second time your credit score gets dragged down doubtlessly due to the late payment. Try to transfer at least by the mid of the month to avoid any penalty.

  • 1 decade ago

    You are late 30 days after the payment is "due". It does not matter when they decide to charge you a late charge.

    For example, if payment for a credit card is due on the 1st and the 1st happens to call on a Sunday, they will still consider the payment late if they receive it on Monday. It doesn't matter that there is no mail delivery on Sunday so you payment could never have gotten to them.

  • Pengy
    Lv 7
    1 decade ago

    The first of the next month, grace period does not extend to or include late payments

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  • Anonymous
    1 decade ago

    For me it was 30 days after the date that it was due. But I'm sure that all mortgage company and banks are different. Check your paper work that you signed when you purchased the house.

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