loan servicers calling borrowers who are not late

We are hearing reports from all over the country that mortgage loan servicers are calling borrowers who are not late.

Most notes allow for a due date of the first of the month and a 15 day grace period. Some mortgage loan servicers - mostly subprime lenders in trouble - are calling borrowers on the first or second day of the month to check on the payment. The persons making the calls infer that there is a problem and this is causing some distress and worry.

My advice? Check the terms of your note. If you have a grace period and your payment arrives within the grace period, don't worry.

These folks are in trouble and trying to get as much cash into their doors as quickly as possible.

It's their problem, not yours.