We missed a payment in November and went into a forbearance agreement with AMC. We began to try to refinance our home a couple of months into the agreement.
We found out that it was their policy to continue to report our mortgage as delinquent until we were completely caught up. I have no problem with that. What I don't understand is why the length of the late grows regardless of payments?
I was thirty days late, I made a payment as agreed and the next month I'm sixty days late! Makes no sense. Is that legal? Now, four months into the agreement I am being reported as 120 days late.
We can't get anyone to refinance us with 120 days late on our credit report. Anyone know how they get away with this type of credit reporting, better yet, anyone know how to fix it?
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