swamp
Community Leader
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Joined: Dec 19, 2010 16:03:22 GMT -5
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Post by swamp on Dec 2, 2019 16:33:15 GMT -5
I paid December's mortgage payment twice buy mistake.
Would you pay January per the usual schedule and just be ahead a payment, or would you wait until February to pay again?
The interest rate is 3.5% and I owe about $55,000
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Deleted
Joined: Apr 20, 2024 3:07:19 GMT -5
Posts: 0
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Post by Deleted on Dec 2, 2019 16:36:22 GMT -5
I paid December's mortgage payment twice buy mistake. Would you pay January per the usual schedule and just be ahead a payment, or would you wait until February to pay again? The interest rate is 3.5% and I owe about $55,000 How did they credit it? If they credited it as extra principal, you still have to make your January payment. |
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hoops902
Senior Associate
Joined: Dec 22, 2010 13:21:29 GMT -5
Posts: 11,978
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Post by hoops902 on Dec 2, 2019 16:36:38 GMT -5
Personally, I'd wait until February and then invest January's payment. I want to stretch my mortgage out as far as I can generally speaking, I'm not a proponent of pre-paying if I don't have a pretty significant reason to.
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swamp
Community Leader
Don't be a fool. Call me!
Joined: Dec 19, 2010 16:03:22 GMT -5
Posts: 45,306
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Post by swamp on Dec 2, 2019 16:37:49 GMT -5
I paid December's mortgage payment twice buy mistake. Would you pay January per the usual schedule and just be ahead a payment, or would you wait until February to pay again? The interest rate is 3.5% and I owe about $55,000 How did they credit it? If they credited it as extra principal, you still have to make your January payment. I have no idea. ETA: I just checked. Extra payment. |
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CCL
Junior Associate
Joined: Jan 4, 2011 19:34:47 GMT -5
Posts: 7,588
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Post by CCL on Dec 2, 2019 19:33:14 GMT -5
Extra principal payment or extra monthly payment? If it's extra monthly payment I'd say skip January. Otherwise won't you always be one month ahead?
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thyme4change
Community Leader
Joined: Dec 26, 2010 13:54:08 GMT -5
Posts: 40,372
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Post by thyme4change on Dec 2, 2019 22:16:30 GMT -5
I once sent my credit card payment to the mortgage bank. I couldn't have sent, say, my $200 electric bill, but instead the $4,000 credit card payment. I have no advice for you - but just wanted to commiserate.
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