| Posted By |
Message |
Kathy042806
LIF Adult
Member since 5/06 1416 total posts
Name:
Kathy
|
Closing and mortgage payment question...
I'm closing on the sale of my house July 12th. Do I pay my mortgage for July and get prorated at closing or should I not make a payment since technically it's not "late" until the 15th. Not sure what to do and being a holiday weekend I didn't want to bother attorneys or anyone else with questions since offices are closed.
|
Posted 7/3/17 12:09 AM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
luvbuffet
LIF Adult
Member since 7/10 6470 total posts
Name:
|
Re: Closing and mortgage payment question...
I'm pretty sure your July payment and maybe even August will be in escrow. You won't know exactly how much to bring til the night before/morning of. Banks won't get back with a total number until the very last minute
|
| Posted 7/3/17 3:33 AM |
| |
|
loveus
LIF Adolescent
Member since 9/13 684 total posts
Name:
|
Closing and mortgage payment question...
.
Message edited 7/3/2017 5:06:57 PM.
|
| Posted 7/3/17 8:12 AM |
| |
|
MrsT809
LIF Adult
Member since 9/09 12167 total posts
Name:
|
Closing and mortgage payment question...
I'm guessing you could go either way although I think I'd just pay it bc I'd get anxiety not to lol. What you pay will be reflected in your payoff amount and whatever is left in escrow should be returned to you.
|
| Posted 7/3/17 8:31 AM |
| |
|
|
|
Closing and mortgage payment question...
Because it's your house. I would pay, you live there 12 days and then get money back on a prorated basis.
|
| Posted 7/3/17 8:39 AM |
| |
|
LSP2005
Bunny kisses are so cute!
Member since 5/05 19453 total posts
Name:
L
|
Re: Closing and mortgage payment question...
Call your mortgage company to determine how they want you to do things. You will need a payoff balance. You will also want to stop autopay too. You would owe a daily rate for those twelve days.
|
| Posted 7/3/17 9:18 AM |
| |
|
olive98
LIF Adolescent
Member since 11/12 791 total posts
Name:
|
Closing and mortgage payment question...
This is included in closing. Don't pay it on your own. You wont owe a payment untill September.
|
| Posted 7/4/17 2:55 AM |
| |
|
Kathy042806
LIF Adult
Member since 5/06 1416 total posts
Name:
Kathy
|
Re: Closing and mortgage payment question...
Posted by olive98
This is included in closing. Don't pay it on your own. You wont owe a payment untill September.
I'm selling not buying. So I'm still living in it until the day of closing so assuming I'm responsible for those 1st 12 days? Just wanted to know if the payment for the last half of the month Will come off the payoff balance or if I just get a check for the difference
|
| Posted 7/4/17 8:30 AM |
| |
|
olive98
LIF Adolescent
Member since 11/12 791 total posts
Name:
|
Re: Closing and mortgage payment question...
Posted by Kathy042806
Posted by olive98
This is included in closing. Don't pay it on your own. You wont owe a payment untill September.
I'm selling not buying. So I'm still living in it until the day of closing so assuming I'm responsible for those 1st 12 days? Just wanted to know if the payment for the last half of the month Will come off the payoff balance or if I just get a check for the difference
Sorry misread your post. I would just call the morgage company tommorow. I would think you would get the difference at closing
|
| Posted 7/4/17 8:36 PM |
| |
|
NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
Name:
|
Re: Closing and mortgage payment question...
You pay it and you'll get a credit back at closing.
|
| Posted 7/6/17 11:33 AM |
| |
|
babycakes18
LIF Adult
Member since 4/09 1281 total posts
Name:
Dani
|
Re: Closing and mortgage payment question...
I wouldn't pay it. If you close on the 12th the title closer will most likely overnight the check to the bank that day and your mortgage company will get it on the 13th. You won't be late. At closing you can discuss this with the title closer.
You won't get any credits at closing if you do decide to pay it. It just means that your final payoff with be a little less.
|
| Posted 7/9/17 11:26 PM |
| |
|
