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samkri · Joined: 27 Jun 2009 Posts: 2 2.19 Dollars($)

As part of the Loan Modification process, Wells Fargo put me on a moratorium for 5 months, during which time I was told not to pay anything. Now, I am out of the moratorium, and I may want to pay the current balance and get current. Wells told me that if I do that, my Credit status will return to "Account Paid up-to-date", but that the five moratorium months will remain as "paid late", even though Wells Fargo told me not to pay them at the beginning of the moratorium. Is there anything that I can or should do about that? How will five "late" mortgage payments affect my Credit Score?

Sam K.

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1731 35.55 Dollars($)

Thats a good question to Wells Fargo

Ask themif they will report this to the credit reportign agencies or they willnot. If they report it to agencies then ti will for sure have negative impact on your credit report

Guest

I think the first question to ask, Sam, is whether you have PROOF of their instruction to you to stop paying. If you've got evidence that they instructed you to stop paying your mortgage then that opens the door for a whoooole list of other questions....

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Late Payments Due to Bank-Initiated Moratorium