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It does not matter how many times do you make a payment. What matters is, a complete payment of minimum amount due is paid before the due date.

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Q: Are you better off making a mortgage payment once a week or 30 days before it is due or when it is due?
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Related questions

What to do if one owner is not making house payment?

The mortgage payments must be made or the lender will foreclose the mortgage.


Comparing Mortgage to choose the best option for me..?

It depends on how much money you are making. If you can comfortable afford to pay for a 15 year mortgage then you should do this. If you are going to be struggling to make the mortgage payment then you should get a 30 year mortgage.


What should one consider when making the decision to do a mortgage refinance?

One reason to refinance a mortgage is to get a better interest rate, so two things to look at are whether your credit score or the market in general have improved since you originally financed or last refinanced your mortgage. If either of those things are true it is likely that you will be able to get a better rate by refinancing. Alternately, you may consider increasing or decreasing the length of your mortgage. With a longer mortgage your monthly payment will be smaller but you will end up paying more in the long run because longer mortgages usually have higher interest rates. Or if you can afford to increase your monthly payment then shortening the length of your mortgage will get you a better rate and get you out of debt faster.


Is not making mortgage payment considered fraud?

No. fraud, in the legal sense, is to deliberately mislead in order to benefit at another's expense.


Can you make payments before you are 3 months late with you mortgage payment to stop foreclosure?

Yes, but contact your mortgage company and make the arrangements. Lenders always prefer making arrangements rather than going into foreclosure because they lose money on every house foreclosed on.


Would a mortgage payment calculator help me make a good investment?

A mortgage payment calculator can help provide a rough estimate on the future of your investments; however, it cannot be thoroughly relied upon when making such a decision, as the housing market can take unexpected turns.


What will happen to mortgaged property placed in trust?

The property will transfer subject to the mortgage. If the mortgage isn't paid the bank will take possession of the property by foreclosure. However, please note that most mortgage documents contain a 'balance due on transfer clause". That means if the title to the property is transferred the bank can demand full payment of the mortgage. You should consult with your bank before making this transfer.


A bi weekly mortgage reduces the term of a thirty year mortgage to how many years?

By making half of a monthly mortgage payment every two weeks, homeowners can save a substantial amount of money over the term of a mortgage loan. Typically, if a homeowner pays half of their monthly mortgage payment every other week, they will reduce a 30-year fixed-rate mortgage by approximately seven years. The reason is simple: instead of making 12 monthly payments, homeowners are making half a payment every two weeks, resulting in 26 half payments per year, or the equivalent of 13 monthly payments in a 12-month period. In the end, the principal is paid down a great deal faster, saving a significant amount of money on mortgage interest payments. Most banks and mortgage lenders offer bi-weekly payment options, and many even offer a weekly mortgage payment option. If you're willing to pay your mortgage bi-weekly, and your lender offers the opportunity for weekly mortgage payments, take full advantage. Does this opportunity to pay off your mortgage early sound too good to be true? Well, there is one caveat: most banks that offer the bi-weekly or weekly payment options also charge a fee to sign up, often hundreds of dollars. However, there is a way to achieve the same results without having to pay these unnecessary fees. Merely make one extra monthly mortgage payment per year or simply distribute an extra month's payment evenly throughout the year by paying down the principal each month. Most monthly mortgage statements provide an extra line for an "extra principal payment." To see exactly how much money a bi-weekly or weekly payment plan can save you over the life of your mortgage loan, an online accelerated mortgage calculator will do the figuring for you. You will be pleasantly surprised at how much time will be removed from your mortgage term.


What are some of the federal plans involving mortgage modification by lenders?

There are a couple of different federal mortgage plans including the Making Home Affordable Program and the Home Affordable Foreclosure Alternatives Program. The Making Home Affordable Program helps you to modify or refinance your mortgage so that you will be better able to afford your monthly mortgage payment. The Home Affordable Foreclosure Alternatives Program, however, is geared more toward those homeowners who are ready to get out from under their mortgage through a short sale or perhaps a deed-in-lieu of foreclosure. You can learn more about these programs online at the federal Making Home Affordable website (http://makinghomeaffordable.gov/).


What are the consequences of paying late mortgage payments?

Although there is typically no consequence to paying a late mortgage payment, there is typically consequences to making mortgage payments late. These consequences typically include a late fee, increased interest rates, and a lowered credit rating.


What happens when you get call regarding repossession but no letter after making a payment?

One payment may not be enough to stop the progress of the repossession proceedings. You need to communicate with the mortgage company and arrange to make regular payments.


Can I transfer my house to a trust if I'm still paying it off?

You can convey your property to a trust but the property will still be subject to the mortgage. You must check with your bank before making that change in title. Most banks require an immediate payment of the mortgage when there is a change in ownership. The bank may require that you refinance in the name of the trust.