As the title says, I'm under contract with a motivated buyer on my house. If all goes well, we close on 9/11. She's using an FHA loan with 20% down if that at all matters. My mortgage is due 9/1 but I don't have to pay it until 9/15 (and then a late fee will incur on the 16th).
I've never had a late fee in the 10 years of living in my house, but I'm more worried about messing up the payoff/sale process somehow. I'm getting mixed feedback from people who have done what I'm doing and were fine and others on Reddit saying I shouldn't risk it.
My new rent is also due on 9/11 and I can't shell out two hefty payments at once but I can figure it out if needed. Has anyone had actual experience doing this? I sent a message to my mortgage lender but won't hear back until Monday probably.
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source https://www.reddit.com/r/RealEstate/comments/1vpg7zy/closing_the_11th_mortgage_due_by_the_15th_pay_or/
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