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Updated over 5 years ago on . Most recent reply
Refinance skip a payment advice needed
Hello everybody. I’m at the finish line with my refinance and it’s suppose to close on Saturday July 27th. The company is saying that it will fund on August 1st. It Was suppose to close on the 26th and fund on the 31st but they had to push it forward a day. Now that it’s going to fund on the 1st it puts my July payment exactly 31 days late. Do you think it’s possible that if I close as planned I get put into collections from the first mortgages last payment and have my credit trashed ? Seems to me that will be the case. Thoughts ?
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- Loan Officer / Processor / Life & Health Agent
- Rancho Cucamonga, CA
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Originally posted by @John Chapman:
Hello everybody. I’m at the finish line with my refinance and it’s suppose to close on Saturday July 27th. The company is saying that it will fund on August 1st. It Was suppose to close on the 26th and fund on the 31st but they had to push it forward a day. Now that it’s going to fund on the 1st it puts my July payment exactly 31 days late. Do you think it’s possible that if I close as planned I get put into collections from the first mortgages last payment and have my credit trashed ? Seems to me that will be the case. Thoughts ?
Pay your mortgage today!!! Don't depend on a refinance to pay it ever.