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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: Mortgage Grace Period
Posted by Tigger77
We pay ours like that every month (for the past year) and I just had my credit pulled and there was nothing on it at all. My DH is a Financial Rep with WAMU and says you have the grace period and most companies wont slap you with a fee until AFTER 30 days. We usually pay it on the 5 or 6th, depending on when we get paid
Really where for wamu?
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Posted 5/19/06 4:22 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
dandg
LIF Zygote
Member since 1/06 46 total posts
Name:
Gerard
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Re: Mortgage Grace Period
Why would someone even risk the chance of paying it during the "grace period". If your mortgage is due on the first pay it by the first. Its really not too difficuly and I would never take the chance of not paying by the due date.
Its not worth it too me.
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| Posted 5/19/06 4:26 PM |
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june262004
But I love the Snow!
Member since 5/05 15379 total posts
Name:
Kristin
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Re: Mortgage Grace Period
Posted by dandg
Why would someone even risk the chance of paying it during the "grace period". If your mortgage is due on the first pay it by the first. Its really not too difficuly and I would never take the chance of not paying by the due date.
Its not worth it too me.
How can you say its NOT difficult! It might be easy for you but not for others  Sometimes I have to pay it on the 3rd or 4th because of the way we get paid.
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| Posted 5/19/06 4:33 PM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: Mortgage Grace Period
Posted by dandg
Why would someone even risk the chance of paying it during the "grace period". If your mortgage is due on the first pay it by the first. Its really not too difficuly and I would never take the chance of not paying by the due date.
Its not worth it too me.
Things come up; expenses that you didn't anticipate or emergancies. There are lots of reasons. I'm sure it would never be by choice but might be of necessity. That is why there is a grace period.
Plus, mail gets lost, payments get credited to the wrong account, people forget.
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| Posted 5/19/06 4:39 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Mortgage Grace Period
Posted by shamrock12472
Posted by dandg
Why would someone even risk the chance of paying it during the "grace period". If your mortgage is due on the first pay it by the first. Its really not too difficuly and I would never take the chance of not paying by the due date.
Its not worth it too me.
Things come up; expenses that you didn't anticipate or emergancies. There are lots of reasons. I'm sure it would never be by choice but might be of necessity. That is why there is a grace period.
Plus, mail gets lost, payments get credited to the wrong account, people forget.
Our pay schedule along with other financial responsibilities makes paying it on the 8th or 9the of the month the easiest. It does not effect us adversely, so it's fine with me. I used to think that paying it on the first was the only way to go..but when you have to manipulate your bills you find a way to get a few extra days out of it without hurting you.
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| Posted 5/19/06 5:28 PM |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: Mortgage Grace Period
Posted by Beth1210
Posted by DjPiLL
This is why a lot of people have the money automatically deducted from their checking account by the bank itself (not an online bill pay).
You can tell the bank that has your mortgage to pull the money on the 8th of every month. Once they pull it... it should be posted that same day since they are the ones doing the pulling.
Then if for some reason they don't pull it on time... they are the ones that should be responsible... not you.
MY DH has seen this affect credit scores- you are still responsible if the bank pulls it late- or he has seen cases were they don't pull it at all- always check
Very true Beth...I work for a Credit Union and you are still responsible...One late payment on a Mortgage and your score can go down a whole lot! You should always check the next day and make sure the payment was made.
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| Posted 5/22/06 9:45 AM |
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DRMom
Two in Blue
Member since 5/05 20223 total posts
Name:
Melissa
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Re: Mortgage Grace Period
by law NO ONE can put anything on your credit report until you are over 30 days late. If they are they are in violation Of the Fair Credit Reporting Act and you can sue them!
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| Posted 5/22/06 4:04 PM |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: Mortgage Grace Period
Posted by melijane
by law NO ONE can put anything on your credit report until you are over 30 days late. If they are they are in violation Of the Fair Credit Reporting Act and you can sue them!
I forgot to mention that...but if you have it automatically taken out and don't check up on it, it may be 30 days before you find out.
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| Posted 5/22/06 6:08 PM |
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