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Message
re: Mortgage payment when selling home
Posted on 4/2/19 at 7:39 am to gsvar2004
Posted on 4/2/19 at 7:39 am to gsvar2004
quote:
where as my mortgage is due on 4/16
Your mortgage is due on the first of the month. THe 16th is the grace period. Unlike rent, when you pay your mortgage payment your'e paying for the month you just spent in the house and not for the upcoming month. Mortgage payments are paid in arrears.
You're going to owe interest for the 1st through the 21st no matter what and if you don't make the payment you're going to additionally owe interest for March and for any escrows for March.
1
Posted on 4/3/19 at 12:34 pm to VABuckeye
quote:
Your mortgage is due on the first of the month. THe 16th is the grace period. Unlike rent, when you pay your mortgage payment your'e paying for the month you just spent in the house and not for the upcoming month. Mortgage payments are paid in arrears.
You're going to owe interest for the 1st through the 21st no matter what and if you don't make the payment you're going to additionally owe interest for March and for any escrows for March.
What we like to call "arrears".
Mortgage interest is paid in arrears.
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