I have the funds to pay the first mortgage and Iβm anxious to do that. My only concern is that 9x out of 10 the mortgage is going to be sold. Should I wait until the 15th of December (due January 1st) to pay it or just send it off now? I believe in paying the bills as soon as they come in and when you have the money. I can actually pay both January and February with a extra principal payment as well.
My mortgage processor informed not to setup auto payments because it would be sold. My sister used the same company and they sold her mortgage to Wells Fargo
Mortgage Payment Help
December 2nd, 2018 at 10:25 am
December 2nd, 2018 at 11:03 am 1543748611
There is no reason to pay the mortgage until it's much closer to being due. The interest is not reduced if you pay early. There is also a good chance it will be sold before the first payment is due. Sometimes this leads to payments getting lost in the transition and it can take time to straighten that out. There is a grace period when a loan is sold and the servicer changes.
In your shoes, I would wait until a week before the due date before paying the bill. If you have not received new instructions, then pay the bill. I like to pay electronically when possible because the audit trail is easier to follow.
In the future, set up automatic payments. You can push the payment from your bank or you can have the servicer pull the payment. I like to let the servicer pull the payment, because it's easier for them to see their records if anything goes wrong.
December 2nd, 2018 at 01:06 pm 1543755971
December 2nd, 2018 at 01:18 pm 1543756724
December 2nd, 2018 at 05:21 pm 1543771277
December 2nd, 2018 at 07:19 pm 1543778349
With good credit, it might be possible to transfer the credit card balances to zero percent interest cards. The cards could be paid off much faster under that scenario. She has been getting further behind on her student loans because the minimum payment does not pay off ell of the interest, so she has been accruing interest on interest. If she pays the full principal and interest on the student loans, they will stop growing and the balance will decrease.
With the second job, she should really make a dent in the debt. Strategizing which debt to pay first should help her progress.
December 2nd, 2018 at 11:52 pm 1543794756
December 7th, 2018 at 02:18 am 1544149106