Forgotten Your Password?

Need to Register?

Question Icon

If a home is in escrow and due to close Sept 4, do I still have to pay the mortgage in Aug?

by vlefevre429 from Boring, Oregon. Jul 23rd 2020 Reply

Bert Carpenter (BertCarpenter)
#1 ranked lender in Arizona - 2,326 contributions

No, BUT if the current mortgage is due for August 1, and is not paid and posted to your account by August 31, the mortgage servicer will report your account as a 30 day late. Not only will this hurt your credit scores, but in today's lending environment most lenders require that you have no 30-day late payments on a mortgage in the last 12 months, so you could be creating a problem if your plans include buying another home after your sale. My advice is to pay the August payment and skip the headache of the hit to your credit. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We got you covered. NEXA Mortgage is licensed in 46 states ~ 480-889-9000.

Jul 23rd 2020
Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 4,529 contributions

The best advice is to always make your mortgage payment when due.

Jul 24th 2020
Subscribe to our news feed.