How Cross Country Mortgage Payments Work and What to Do If You Fall Behind
What Cross Country Mortgage Does
Cross Country Mortgage is a mortgage lender and servicer — meaning they originate loans and also collect your monthly payments. If you have a mortgage with Cross Country, your payment goes to them, and they handle the paperwork between you and the investor who owns your loan. They also manage escrow (the account that holds money for property taxes and homeowners insurance), send you statements, and process requests to modify your loan if you're struggling.
Cross Country operates in most states and handles mortgages for primary residences, investment properties, and refinances. Like all servicers, they're required to follow federal rules about how they handle payments, what they can charge, and how they must treat you if you fall behind.
Key Takeaways
- Cross Country accepts payments by mail, phone, online portal, and automatic bank transfer (ACH), and the method you choose affects when the payment posts to your account.
- A payment is late if it arrives after the due date shown on your statement, and Cross Country can charge a late fee and report the miss to credit bureaus after 30 days.
- If you're behind on payments, contact Cross Country's loss mitigation team before the first missed payment posts — they can discuss loan modification, forbearance, or other options.
- Cross Country must follow federal servicing rules that limit what they can charge and require them to apply your payment to the oldest debt first.
- Your escrow account (for taxes and insurance) is separate from your principal and interest payment, and shortfalls there can trigger a forced payoff or require you to pay extra each month.
How to Make a Payment to Cross Country
Cross Country offers four main payment methods, and the speed varies. The fastest is automatic bank transfer (ACH), which you set up through their online portal or by phone — the payment leaves your account on the date you choose and posts to Cross Country within one to two business days. Online payments through their website or mobile app typically post within one to three business days. Phone payments (by debit card or bank account) are processed the same day you call but may take a day or two to show in your account.
Mailed checks are the slowest. Cross Country's mailing address is on your statement, but mail takes five to seven business days to arrive, and processing adds another day or two. If you mail a check, send it at least ten days before your due date to avoid a late fee. Never mail cash.
The due date on your statement is the date your payment must arrive at Cross Country's office, not the date you send it. If your payment arrives after that date, it counts as late even if you mailed it on time. This is why automatic transfer or online payment is safer — you control the exact date the money leaves your account.
What Happens If Your Payment Is Late
A payment is late the day after the due date on your statement. Cross Country can charge a late fee — the amount depends on your loan documents, but it's typically 4 to 5 percent of your monthly principal and interest payment. The late fee is added to what you owe, not deducted from your next payment.
If your payment is 30 days late, Cross Country reports the miss to the three credit bureaus (Equifax, Experian, TransUnion), and it stays on your credit report for seven years. A 30-day late payment can drop your credit score by 100 points or more, depending on your current score. After 120 days (four months) of missed payments, Cross Country can begin foreclosure proceedings in most states, though they must first send you a notice of default and give you time to catch up.
The moment you miss a payment, contact Cross Country's loss mitigation team — do not wait. Their phone number is on your statement. Explain your situation: job loss, medical emergency, reduced hours, or temporary hardship. They can discuss options before the first miss is reported to credit bureaus.
Loan Modification, Forbearance, and Other Options
If you cannot make your full payment, Cross Country's loss mitigation team can discuss three main paths. Forbearance temporarily reduces or pauses your payment for three to twelve months while you recover from a hardship. At the end of forbearance, you resume full payments, and the paused amount is usually added back to the end of your loan (extending it by a few months). Forbearance does not erase the missed payments from your credit report, but it stops foreclosure and gives you breathing room.
Loan modification permanently changes your loan terms — usually lowering your interest rate, extending the loan term, or both. A modification can reduce your monthly payment by hundreds of dollars. It takes four to eight weeks to process, and you must be current or only slightly behind to may have access to. Modifications also stay on your credit report, but they show you worked with the lender rather than defaulted.
Reinstatement means paying all missed payments, late fees, and legal costs in one lump sum to bring your loan current. This is the fastest way to stop foreclosure if you have the cash, but it doesn't reduce your ongoing payment. Some people use a personal loan, borrow from family, or sell assets to reinstate.
If you're behind and Cross Country has already filed for foreclosure, you may also have a right to redemption (paying off the full loan balance before the foreclosure sale) or a right to cure (paying arrears before the sale date). These rights vary by state. Ask Cross Country or a HUD-approved housing counselor what applies to you.
Understanding Your Escrow Account
Your monthly payment to Cross Country usually includes three parts: principal, interest, and escrow. Escrow is money Cross Country holds in a separate account to pay your property taxes and homeowners insurance when they're due. You don't pay taxes and insurance directly — Cross Country pays them from escrow on your behalf.
Once a year, Cross Country performs an escrow analysis. They calculate whether the money you've paid into escrow is enough to cover next year's taxes and insurance. If taxes or insurance went up, your escrow payment increases. If they went down or you overpaid, your escrow payment decreases or you receive a refund. The analysis is required by federal law and is not optional.
If your escrow account runs short — meaning the money isn't enough to cover taxes and insurance when they're due — Cross Country can require you to pay the shortfall immediately or spread it over the next twelve months. If you don't pay, Cross Country can force you to pay off the entire loan or can add the shortfall to your monthly payment. This is separate from your mortgage payment and can happen even if you've never missed a payment.
Your Rights Under Federal Servicing Rules
Cross Country must follow the Dodd-Frank Act and related federal rules that protect mortgage borrowers. These rules require Cross Country to apply your payment to the oldest debt first (usually past-due amounts before current interest), to credit your account on the day they receive payment, and to send you a statement each month showing what you paid and what you owe.
Cross Country cannot charge you a fee for paying by phone, online, or mail. They also cannot require you to pay more than one late fee per missed payment, even if the payment is very late. If you dispute a charge or believe Cross Country made an error, you have the right to request an investigation. Send a written dispute to the address on your statement, and Cross Country must respond within 30 days.
If Cross Country is preparing to foreclose, they must send you a notice of default at least 120 days before the foreclosure sale. This notice must include your current loan balance, the amount you owe in arrears, the date by which you can cure (pay what you owe to stop foreclosure), and information about loss mitigation options and housing counseling. You have the right to speak with a loss mitigation specialist before foreclosure proceeds.
What to Do If You're Struggling with Payments
The first step is to contact Cross Country before you miss a payment. Call the number on your statement and ask for the loss mitigation or workout department. Have your loan number, current income, and a brief explanation of your hardship ready. Be honest about what you can and cannot pay.
While you're waiting to hear back from Cross Country, continue to pay what you can, even if it's less than the full amount. Any payment you make reduces what you owe and shows good faith. Do not ignore the account or stop communicating — silence makes it harder for Cross Country to help you.
If you're unsure whether you may have access to for a modification or forbearance, or if you want a second opinion, contact a HUD-approved housing counselor. These counselors are free and can review your loan, explain your options, and sometimes negotiate with Cross Country on your behalf. Find one by calling 211 or visiting the HUD website.
Frequently Asked Questions
Can I pay Cross Country Mortgage with a credit card?
No. Cross Country does not accept credit card payments directly. You can pay by bank account (ACH or check), debit card (by phone), or online transfer, but not by credit card. If you use a third-party payment service that accepts credit cards, you'll pay a processing fee, and the payment may take longer to reach Cross Country.
What if I pay late but then catch up — will it hurt my credit?
Yes. A late payment stays on your credit report for seven years, even if you catch up later. However, the damage decreases over time, and if you make all payments on time after that, your score will gradually recover. A modification or forbearance agreement also shows lenders that you worked with Cross Country, which is better than a foreclosure.
Can Cross Country force me to pay off my entire loan?
Yes, but only in specific situations. If your escrow account is short and you don't pay the shortfall, Cross Country can demand full payment. If you violate the terms of a loan modification agreement, they can also demand full payment. If you stop paying altogether and foreclosure proceeds to sale, your loan is paid off from the sale proceeds, and any remaining balance becomes a deficiency judgment (which varies by state). Read your loan documents to understand when Cross Country can demand full payment.
How long does a loan modification take?
Most loan modifications take four to eight weeks from the time you submit all required documents. Cross Country will ask for recent pay stubs, tax returns, bank statements, and a hardship letter explaining why you need the modification. Incomplete applications take longer. Ask Cross Country for a timeline when you submit your request.
What if Cross Country loses my payment?
If you paid by check or mail and Cross Country says they never received it, ask them to investigate. Keep a copy of the cancelled check or a receipt showing the payment was sent. If you paid online or by ACH, your bank will have a record of the transfer. If Cross Country cannot find the payment after investigation, they must credit your account. Do not assume a payment is lost — follow up within a week if it doesn't appear in your account.