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Mortgage Bill Late |
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I have been in my current home for 3+ years. My mortgage company sends me a monthly bill. In the beginning, I recieved my bill by the 1st or 2nd day of the month, to be paid on the 1st of the following month. Now, my bills are coming later and later. I didnt recieve Decembers bill until Nov. 29th (due Dec. 1). I took it upon myself to call and get my payment, and added extra principal, with a very specific note on paper, and on the check, what was for the payment and what was for extra principal. (I made a copy of both). They didnt apply the extra principal until I called about it, instead had considered it a double payment, and nothing was due until 2 months from then. My questions are: if my payment is due on the 1st of each month, shouldnt I recieve the bill sooner than 3 days before it is due? (there is no postmark date on the bill). Also, could they be delaying my bill on purpose trying to collect late fees? I always at least double my mortgage payment, with 100%+ going to the principal. Thank you! |
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Your state's law give you 15 day's grace period, so you couldn't be charged late fees unless they received your check on the 16th of the month or later. I wouldn't worry about that.
As for your extra payments, I'd advise sending them on a separate check, clearly marked "to be applied entirely to principal."
Congratulations, by the way, on reducing your debt so quickly! |
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Edith
Originally published on December 28, 2007 |
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