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We are closing on a short sale, should I make the last payment it will be late 2 days after closing?

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April 23 2012 - Orlando
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Answers (4)

Yes, make your payment. However, call your lender and see how long before your payment will reflect in a pay-off request.  Then contact your closing agent, and make sure that they order an current and up to date payoff reflecting the new payment after your lender receives it.

If payment is received to late to reflect in the payoff, the payment will be added to the payoff. However, they will send you the extra payment back sometime after closing.

Unless you are needing the money to use on your up coming closing, it will only be an inconvenience and is much, much better than having a 30 day mortgage late on your record.
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April 23 2012
Absolutely ask your escrow agent.
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April 23 2012

You will have a late mortgage payment on your credit after it is 30 days late.  before then, it should not be reported to your credit.  But I agree, ask the closing agent and be prepared to call your bank ASAP to pay by phone if it does not close on time.  Good luck!

Matt Hoover
Welcome Home Realty
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April 23 2012
Discuss this with the closing company.
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April 23 2012
 
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