Mortgage Payment Not Paid Prior to Closing (credit report, fee, lender)

[zamber8]

My home is for sale and was scheduled to close the end of February. The buyer's lender has pushed the closing back a week. Our mortgage payment is due 3/1 grace period until 3/15. We want to avoid making another mortgage payment since majority of it is just going to interest. If we don't pay the mortgage for March will the payoff stay the same it is currently or will they add the full mortgage payment for March to the payoff total? Thanks

[Pfhtex]

It depends when the existing payoff is "good through." Request a copy of the payoff. Talk to the title agent, and talk with your mortgage company.

If things get worse, be certain to make the payment that is due, in the same calendar month that it is due! It's one thing to incur a late fee for paying it off past the 5th or 15th, but if a payment, or payoff happens after you miss an entire calendar month, you will receive a 30-day mortgage late mark on your credit reports.

[TimtheGuy]

Originally Posted by zamber8

My home is for sale and was scheduled to close the end of February. The buyer's lender has pushed the closing back a week. Our mortgage payment is due 3/1 grace period until 3/15. We want to avoid making another mortgage payment since majority of it is just going to interest. If we don't pay the mortgage for March will the payoff stay the same it is currently or will they add the full mortgage payment for March to the payoff total? Thanks

They will just add interest. For example, if you close on 03/07 there will be an additional 7 days of interest added to your payoff.