2007-03-28 13:20:43 · 11 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I say the answer is yes. Check with your mortgage company. If you specify that the extra payment (money) is for the next month it should be applied as so. Make sure that you review your next mortgage coupon to verify that the additonal money was applied to the next months mortgage payment. It should state when your next payment is due. IE if you pay April and May it should state that your next payment is due June.
I bank with Wells Fargo, do not need to make a payment until May 1st 2007, as i make out my checks every two weeks and send them in when i have a full payment, i am now one payment ahead. I could skip my payment in April as long as I make sure that i make a full payment by May 1st, it will not affect my credit.
I've done this with Wells Fargo, Washington Mutual and our local hometown bank.
But if you make a double payment and do not specify that is what you are doing, they will apply the extra to principle and you will not be able to skip a payment and that would definitely hurt your credit.
2007-03-28 15:14:15 · answer #1 · answered by MontanaGirl 4 · 0⤊ 0⤋
No you can not. No matter how much you pay this month, next month you still have the pay the normal monthly payment. No you can ask that the extra go towards the principal and that will help in the end of it, but not now.
2007-03-28 13:25:23 · answer #2 · answered by Babygirl 2 · 1⤊ 0⤋
No, but if you have extra money just sitting in the bank, first, you should pay down any high interest credit cards. Then if you still have money left over you can apply it to your house payment. But make sure to tell them to apply it to the PRINCIPAL only.
2007-03-28 13:30:13 · answer #3 · answered by fgdhfghr 4 · 0⤊ 0⤋
The additional payment would go towards your principal, you'd still owe for the interest that accrued during the month.
Contact your lender if you need to prepay, some will be willing to work something out with you.
2007-03-28 13:27:09 · answer #4 · answered by Vegan 7 · 0⤊ 0⤋
Yes you can as long as you state on the payment its for the next month!
2007-03-28 16:15:55 · answer #5 · answered by CEESONE 4 · 0⤊ 0⤋
no.
any additional payments go towards your escerot, and not towards your monthly mortgage payments. skipping a month will double next months payment and you can damage your credit.
2007-03-28 13:24:20 · answer #6 · answered by kimmy 2 · 0⤊ 1⤋
NO !
They apply the second payment to the principle, then charge you a late fee for the missed month.
2007-03-28 13:26:18 · answer #7 · answered by apup76 3 · 0⤊ 0⤋
No - but if you pay 1/2 your mortgage twice a month, you will save big $$ over the term of your mortgage and have it paid off early.
2007-03-28 13:25:23 · answer #8 · answered by ra63 6 · 0⤊ 0⤋
No. Just save your money, keep earning interest on it in your bank account, and send it in next month.
2007-03-28 13:25:29 · answer #9 · answered by Lisa A 7 · 0⤊ 0⤋
Aaj sab milkar Krazy ke saath Meh Meh Karana seekhenge... Shadow bhi baa ha ha ha ki Jagath meh meh bahot karata hai....enable me translate for you shadow- you besides mght do meh meh rather of doing baa ha ha ha .... you're our new goat :D. Lol
2017-01-05 09:16:07 · answer #10 · answered by Anonymous · 0⤊ 0⤋