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If you refinance, is it true you skip paying for a month?
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MissJones
I need a nap!
Member since 5/05 22150 total posts
Name:
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If you refinance, is it true you skip paying for a month?
I was talking to someone about doing a refi and she said, "Hey, you won't have to pay for a month." I remember when we closed on our apt, we closed early Nov and didn't start paying until January, so we technically didn't make a payment in Dec.
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Posted 9/4/10 8:39 AM  |
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mosh913
baby boy coming spring '11
Member since 5/05 3133 total posts
Name:
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Re: If you refinance, is it true you skip paying for a month?
I'm sure it depends on each bank and the time of the month that you close. I am in the process of refi and the bank told me if I close in Nov. my first payment won't be until Jan.
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| Posted 9/4/10 8:41 AM |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
Name:
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Re: If you refinance, is it true you skip paying for a month?
We are in the process of a refi and we will skip a month.
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| Posted 9/4/10 9:01 AM |
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kabr13
LIF Toddler
Member since 2/09 470 total posts
Name:
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Re: If you refinance, is it true you skip paying for a month?
We actually skipped two. We were supposed to refinance last month but something happened on their end.
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| Posted 9/4/10 9:35 AM |
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LL514
LIF Adult
Member since 4/10 1901 total posts
Name:
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Re: If you refinance, is it true you skip paying for a month?
are you really skipping a month or is that month just rolled into the closing costs?
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| Posted 9/4/10 10:43 AM |
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ttcc
LIF Toddler
Member since 7/09 453 total posts
Name:
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Re: If you refinance, is it true you skip paying for a month?
yes and no. you end up rolling the unpaid interest into the closing costs...so technically you skip a payment, but you really aren't.
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| Posted 9/4/10 10:44 AM |
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