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What happens if you pay the mortgage late by one week?


Asked by Anonymous at 7:41 AM on Sep. 17, 2010 in Money & Work

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Answers (10)
  • They charge you a late fee after a certain date. It shows on the bill at least on my bill If I pay after the 16th of the month they charge $25..

    Answer by Cassandre at 10:13 AM on Sep. 17, 2010

  • your bank gets annoyed. Depends on your contract how late you can be before they add late fees. It is never a good idea to miss a house payment as if you ever need to refianace or move to another house how you payed preiviously effects the new intrest rate alot.

    Answer by steveiguana at 7:46 AM on Sep. 17, 2010

  • At our bank one we late is not a big deal we have a 14 day grace period. After that it's a late fee. They don't get really annoyed until you skip it all together.

    Answer by But_Mommie at 7:49 AM on Sep. 17, 2010

  • one week past due date or one week past late date?

    Answer by tootoobusy at 7:51 AM on Sep. 17, 2010

  • As long as you pay it before the late fees are added on, they probably will not ever even notice.

    Answer by mommy11260 at 8:04 AM on Sep. 17, 2010

  • It depends like say your bill is due on the 1st and you pay it on the 8th you will be fine. There is usually a "late date" mine is the 15th and chances are if you are a late week on that one you will get some fees... nothing too serious. As others said it's not going to look good in the future though if you continue with being late on your payments.

    Answer by Shellybelly420 at 8:37 AM on Sep. 17, 2010

  • It is serious regardless, b/c it goes against your credit...I was told my more than one broker and creditor that the WORST payments to be late on are your house, and car.
    You wont go into foreclosure or anything, but it will be a black check on your credit that they will watch and your are typically assessed about 80.00 in late fees beyond your grace period.

    Answer by Happymom2-2 at 9:01 AM on Sep. 17, 2010

  • Be careful about the grace period. Some creditors say the grace period begins on the date the bill is printed. I got caught by a credit card company that way. I was one day (yes, one day) late and they were going to charge me a late fee. I had to call and complain and eventually cancelled my account over it. If I didn't do this, it would have showed up on my credit report. Make sure you understand your bank's policies completely. If you need finanical help, call them and arrange it with them. It's always better to let them know. They're more willing to work with you that way.

    Answer by HotMama330 at 11:55 AM on Sep. 17, 2010

  • With Citimortgage you pay a $60 late fee. It happened to us once. That's about it. You would have to worry if you were 30-60-and over 90 days late.

    Answer by KairisMama at 2:35 PM on Sep. 17, 2010

  • Depending on your mortgage most have a grace period of 15 days. If you pay after the grace period you will pay a late fee but as long as your mortgage , or for that matter any debt, is not 30 days or more late it is not reported on your credit report.

    Answer by Kari126 at 12:17 AM on Sep. 18, 2010

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