Legal Question in Real Estate Law in California
30 days late on real estate loan (?)
Several months ago I made a mistake in my check book accounting and bounced a check. Unfortunately, this was my house payment. The bank sent me a letter, which I received about 15 days later. I immediately sent them another check (yes, this one was good), which they didn't accept. I received another letter from the bank saying they only will receive a certified check to replace the original NFS check. They said their letter to me stated that, which I don't remember if it did. They did state that they received my second check on the 30th of the month though. I sent them a certified check which they received on the 10th of the following month. But now they put a 30 days late on my credit report, which lower my FICO score from 728 to 687. It is my one and only 30 days late...ever. My real estate note says nothing about a ''certified check'' being required to be sent, just that I am required to pay an additional 5%, which I paid. They did receive the second check within the 30 days, as required by the note. I asked them about this and they stated that the RESPA Act allows they to do this (under loan servcing section 6 of the RESPA Act). I would like to fight this and have this 30 days late removed from my credit report.
1 Answer from Attorneys
Re: 30 days late on real estate loan (?)
If I were your lawyer, I would recommend that you not fight it; credit ratings are discretionary with the bureau and while you have a right to have accurate information on your report, the score is not something you are allowed to question directly.
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