Legal Question in Credit and Debt Law in California
Grace period / Telephone harrassment by creditors
I recently refinance my current home mortgage loan with a company that has resold the loan to another company. Since that time I have been getting telephone calls from the new mortgage company stating that it is after the first of the month and they have not received the loan payment and that I am delinquent. The contract that I sign stated that the loan is due on the first of each month, if the loan payment received after the 15th of that month a late fee will apply.
They are now calling numerous times a day starting on the second of the month. The calls are starting to be harassing and rude. I had 5 messages of calls today, when they finally got my cell number from my office voice mail and called the cell number. The supervisor told me that I my loan is late and I was delinquent. I asked if I was being assed a late fee and being reported to the credit agencies. I was told that I had not been assed a late nor were I was being reported to the agencies, but I was late. I informed the caller that the 15-day grace period had not expired and the loan history has never exceeded the grace period. The caller confirmed that to be correct, but I was still late by the contract terms of the 1st of the month.
1 Answer from Attorneys
Contact an attorney
You did not provide me with the details of the telephone conversation to see which laws are applicable, but there are laws that regulates the lender and how they process your loan, even after the closing. I would need more information from you to really assist you. It may be best for you to contact an attorney by telephone or with more information. These sort of things routinely occur when loans are sold; it doesn't make it fair, but it does happen.
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