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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Question about paying your mtg....
So, on our mtg statement there is a due date and then a date that says if it's. It paid by such and such a date a late fee will apply. I ALWAYS pay by the due date. But some months I have to transfer some money from Savings to pay the mtg and the. When DH gets paid a couple of days later I transfer the money back to savings. DH says instead of transferring money we can just pay it when he gets paid as long as it's before the date where a late fee applies. We both have an excellent credit score so I am worried that this will mess up our credit scores if we aren't paying it by the due date? DH says I'm wrong as long as we pay it before the late fee date? Is he right?
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Posted 10/8/15 9:47 AM  |
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chilltocam
LIF Adult
Member since 11/11 9141 total posts
Name:
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Question about paying your mtg....
I think your DH is correct (but not 100% sure). The time between the due date and the late fee is the grace period. And, I'm also pretty sure that only payments (of any kind) that are more than 30 days past due will effect your credit score/report
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| Posted 10/8/15 9:52 AM |
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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Re: Question about paying your mtg....
Posted by chilltocam
I think your DH is correct (but not 100% sure). The time between the due date and the late fee is the grace period. And, I'm also pretty sure that only payments (of any kind) that are more than 30 days past due will effect your credit score/report
This is exactly what he said too. We are going to be selling and buying again soon so I didn't want to do anything to jeopardize our credit scores. I guess he was right. Thank you!!
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| Posted 10/8/15 9:59 AM |
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b2b777
LIF Adult
Member since 9/09 4474 total posts
Name:
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Question about paying your mtg....
Why dont you call the company and see if they will change your due date?
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| Posted 10/8/15 9:59 AM |
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skew
LIF Adult
Member since 5/05 6794 total posts
Name:
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Re: Question about paying your mtg....
My "pay by" is the 1st of the month. The due day is the 15th.
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| Posted 10/8/15 10:01 AM |
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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Re: Question about paying your mtg....
Posted by skew
My "pay by" is the 1st of the month. The due day is the 15th.
This is what my bill says. It says pay by the first and a late fee will apply if not paid by the 15th.
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| Posted 10/8/15 10:04 AM |
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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Re: Question about paying your mtg....
Posted by b2b777
Why dont you call the company and see if they will change your due date?
I had no idea that the due date could be changed for the mtg. Thanks!!
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| Posted 10/8/15 10:05 AM |
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Ian&EmmesMommy23
My family is complete!
Member since 11/08 12970 total posts
Name:
Diana
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Re: Question about paying your mtg....
Posted by luckysmom
Posted by skew
My "pay by" is the 1st of the month. The due day is the 15th.
This is what my bill says. It says pay by the first and a late fee will apply if not paid by the 15th.
this is mine too.
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| Posted 10/8/15 11:22 AM |
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jellybean78
:)
Member since 8/06 13103 total posts
Name:
Mommy
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Re: Question about paying your mtg....
Posted by luckysmom
Posted by skew
My "pay by" is the 1st of the month. The due day is the 15th.
This is what my bill says. It says pay by the first and a late fee will apply if not paid by the 15th.
Mine too. I called when we got our first statement. The rep verified as long as the mortgage is paid by the 15th it is not considered late. After the 15th its considered late and you will get charged a late fee.
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| Posted 10/8/15 12:07 PM |
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bella321
Blessed!
Member since 3/09 1952 total posts
Name:
Kristy
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Re: Question about paying your mtg....
My due date is the 1st. I have automatic payments taken out of checking on 10th. Late fees apply on the 15th. My credit score is in the high 700s.
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| Posted 10/8/15 3:23 PM |
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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Question about paying your mtg....
Thanks everyone! Looks like my DH was right.
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| Posted 10/8/15 5:21 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Question about paying your mtg....
We pay on the 14th even though it's due on the 1st. No issues.
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| Posted 10/8/15 11:48 PM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Question about paying your mtg....
Your DH is right, but I'm like you and want it paid on the due date! Ours comes directly out of our account on the 1st of every month, which is the due date.
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| Posted 10/9/15 11:06 AM |
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PaddysGirl
Little princess is here!
Member since 4/07 5923 total posts
Name:
Crystal
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Question about paying your mtg....
Your DH is right. I thought I made a payment but apparently not. I called my mortgage co right away and they confirmed I had till the 15th before and late fees and such.
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| Posted 10/9/15 12:59 PM |
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mrsboss
my little love
Member since 12/09 5054 total posts
Name:
Me
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Question about paying your mtg....
We always pay our mtg 5-10 days late, prior to late fee being assessed. Not a big deal at all.
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| Posted 10/9/15 2:41 PM |
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BargainMama
LIF Adult
Member since 5/09 15657 total posts
Name:
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Question about paying your mtg....
I think most mortgages with banks are due on the 1st, and if rcvd after the 15th, it is late. I worked with a ton of banks in my previous job, and that was the rule for all of them.
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| Posted 10/10/15 10:34 PM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
Name:
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Re: Question about paying your mtg....
As long as your mortgage is paid by the last day of the month your credit won't be affected AT ALL. For credit purposes a mortgage is only considered late if you pay (as an example) September's mortgage payment in October.
However, it's no big deal to pay it past the "due date" but before the "late date". Also, even if you pay after the "late fee" date then you just pay the late fee and even still your credit isn't affected.
Message edited 10/12/2015 9:28:14 AM.
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| Posted 10/12/15 9:28 AM |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: Question about paying your mtg....
Posted by luckysmom
Thanks everyone! Looks like my DH was right.
Just don't tell him that! 
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| Posted 10/14/15 2:54 PM |
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luckysmom
Yes it is! Going as planned:)
Member since 6/07 5339 total posts
Name:
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Re: Question about paying your mtg....
Posted by DaniJude
Posted by luckysmom
Thanks everyone! Looks like my DH was right.
Just don't tell him that!
Lol those words will never come out of my mouth when talking to him about it 
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| Posted 10/14/15 5:58 PM |
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