My co-borrower informed me today that due to their workplace switching after 33 years how they are paid, they missed their mortgage payments by a couple days. As in they paid for example, on the 18th, instead of by the 16th when it was due without any late charges. This happened the last couple of months but is back on track now.
There has NEVER been a 30 day late on the mortgage – only a few days, but enough to show a charge.
The mortgage doesn’t report to the credit bureau but I have all their monthly checking statements showing they paid their mortgage. My lender asked for just a general statement that showed when the loan was opened, what the original and current balances are, interest rate and what not. This doesn’t state there has been any late fees.
What problems is this going to cause for me? Is this reason for denial? The last 5 years the mortgage has been opened there hasn’t been any problem, until they changed the dates they were paid and took away 2 full weeks of pay in the process.