Late Payment Question

[Teddy]

Am I correct in my belief that payments are not counted "late" on your credit unless they are 30 days?

I may rearrange my finances so I can file BK sooner which would make my mortgage payment a few days past my grace period but not even close to 30 days.

I don't want to make my mortgage ever appear late so I don't want to do this unless I'm sure. I think I'll just incur a late fee which I could probably get them to remove since I've never been past the grace period.

Thanks!

[keepmine]

The lender should not eport you late until, you are indeed 30 days late.

[Teddy]

Thanks! I thought so but wanted to be sure.

[emoney]

What is late in defined in your note. Lets say your mortgage payment is due on the 1st and it is past due on the 2nd. Most lenders do not report anything that is late less than 29 days.
So why risk a late payment, get the payment into them by the 1st if you can.
regards,
emoney

[Teddy]

My payment is actually due on the 1st - my grace period is the 16th (I will not incur a late fee if paid by then) - I will be paying the payment on the 18th so it will be 2 days after the grace period - 17 days after the actual due date but not 30 days.

I really want to get the BK filed - I don't know why but I'm very anxious about it and I think I'll feel better once it's done.

I just thought of something - I can actually pay it on the last day of the grace period b/c the funds won't come out of my checking account for 2 days at which point my money will be in the bank. I don't think it's a problem at all.

[emoney]

Please check your timing. Many checks are cleared at the time they are recieved. Otherwise they are cleared the next day, not day two.
regards,
emoney