 mortgage payments (by woody painter [OK]) Aug 10, 2018 9:08 AM
 mortgage payments (by Johnny B. [MA]) Aug 10, 2018 9:31 AM
mortgage payments (by fred [CA]) Aug 10, 2018 10:16 AM
mortgage payments (by plenty [MO]) Aug 10, 2018 10:21 AM
mortgage payments (by Luba [NY]) Aug 10, 2018 3:39 PM
mortgage payments (by small potatoes [NY]) Aug 10, 2018 8:34 PM
mortgage payments (by woody painter [OK]) Posted on: Aug 10, 2018 9:08 AM
Message:
If I pay 3 mortgage payments august, sept, october $500 each in same ck at one time 1500.00 total. Will I only have to pay interest on the one month and the other 2 payments go all to principal since I am paying all three at once. --159.118.xx.xx |
mortgage payments (by Johnny B. [MA]) Posted on: Aug 10, 2018 9:31 AM
Message:
If you’re applying the excess payment toward principal for the payment that you’re making in August, you would still have a September and October payment due as normal, with the interest. The excess you paid towards principal will shorten the total number of payments over the life of the loan and you would satisfy the loan term a few months ahead of schedule. --24.147.xx.xxx |
mortgage payments (by fred [CA]) Posted on: Aug 10, 2018 10:16 AM
Message:
Banks and mtg companies don't like customers who pay months in advance. You have loan documents that you signed, and they expect you to follow them.
What will probably happen here, is the bank will apply $500 towards Aug payment, $1000 towards your principle and Sept and Oct payments will be due.
Call customer service and ask them if you pay with separate checks and explain that you are going to be out of state for 2-3 months. See what they say. --99.59.x.xxx |
mortgage payments (by plenty [MO]) Posted on: Aug 10, 2018 10:21 AM
Message:
Do you have coupons? Or get a monthly statement? --99.203.xx.xx |
mortgage payments (by Luba [NY]) Posted on: Aug 10, 2018 3:39 PM
Message:
You need to call and ask. One of my companies was holding a check even I was writing “apply to my principal” and was calling every time to tell them what to do. The other company will apply to a principal by default, us long as extra will be less than mortgage payment.
If you want to use a money as a regular payment, they will charge an interest.
One of the ideas is to tell that you will pay your taxes without a mortgage company. Use the leftover money for the principal and pay taxes when due from your savings. --174.203.x.xx |
mortgage payments (by small potatoes [NY]) Posted on: Aug 10, 2018 8:34 PM
Message:
I follow the payment schedule and make the regular monthly payment and then make an additional payment in the middle of the month, that goes toward principal. It took some straightening out to get the MoCo to wrap their brain around this, but now that it is in place they credit me accordingly.
If you want to take care of your fall payments then pay them via your online bank acct and schedule the payments months out. Or make them a recurring payment that generates on the date you need.
You didn't say your mortgage is set up to accept extra payments. Not all are. You could be penalized for paying it down early. --24.194.xx.xx |
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