First mortgage payment coming up - send registered or normal mail?

[swbsam]

Silly question, but I've never had to snail mail checks for a few grand out before - should I send my payment via regular or fedex/registered mail?

 

[OCGuy]

Regular works fine.

You could also have your bank send the check via online billpay if that is an option for you.

 

[spidey07]

In the olden days way back we used to mail things called checks to pay bills of which one of them was a mortgage payment. It required a strange document that people licked with their tongue, eww, called a stamp.

Seriously, it's just a bill regular mail is fine.

 

[MotionMan]

Originally posted by: OCguy
Regular works fine.

You could also have your bank send the check via online billpay if that is an option for you.

These.

MotionMan

 

[Safeway]

BillPay is amazing. Never late, and if you are, the bank covers any fees.

 

[BlahBlahYouToo]

brag thread in disguise?

 

[MiniDoom]

cant pay online?

 

[MotionMan]

Originally posted by: spidey07
In the olden days way back we used to mail things called checks to pay bills of which one of them was a mortgage payment. It required a strange document that people licked with their tongue, eww, called a stamp.

Seriously, it's just a bill regular mail is fine.

Next you are going to tell me that you use to have to open a book to get information and you had to get up from your chair to change the TV channel!

MotionMan

 

[iamwiz82]

Originally posted by: spidey07
In the olden days way back we used to mail things called checks to pay bills of which one of them was a mortgage payment. It required a strange document that people licked with their tongue, eww, called a stamp.

Seriously, it's just a bill regular mail is fine.

Jesus you are old.

 

[swbsam]

Originally posted by: OCguy
Regular works fine.

You could also have your bank send the check via online billpay if that is an option for you.

You know, I mentioned that when asking customer service for my account number - they said they prefer personal checks for now, and that in a few months the loan would be "sponsored" by a 3rd party, from that point forward we can pay by autopayment through our bank..

I found that a little weird, but I don't understand this stuff at all.

Thanks for the info!

Another question - when the 1st falls on a weekend, do we have to assume the due date is the Friday before, or is it not a big deal if they receive the check on Monday? Not that it's an issue - we have a nice buffer and plan on always paying our mortgage early, but.. OK, I absolutely hate USPS and am so used to getting things either late or lost by them..

 

[Crusty]

If you routinely have your mail lost/late then you are doing something wrong.

 

[swbsam]

Originally posted by: BlahBlahYouToo
brag thread in disguise?

I'm not bragging.. Seriously, I feel blessed to be a home owner but, after the whining and nagging (and thousands of dollars of unplanned expenses) of my new tenants [who were awesome and had great references when they signed the lease], there's absolutely no reason to brag.. it's a lot of work!

 

[Synomenon]

If the USPS goes down to only 4 days of mail a week, will this have any effect on paying bills via regular mail?

 

[TheKub]

Originally posted by: swbsam
Silly question, but I've never had to snail mail checks for a few grand out before - should I send my payment via regular or fedex/registered mail?

Pffft checks.

I think my starter check book that I got way back in college lasted me like 3 years, and I think I still had some left because I couldnt bring myself to mail a check with kittens on it.

 

[swbsam]

Originally posted by: Crusty
If you routinely have your mail lost/late then you are doing something wrong.

Well, it's mostly magazines.. I never did anything serious (bills, etc) via snail mail and always pay my bills online. But when I get July's Rolling Stone in September, I begin to worry!

 

[swbsam]

Originally posted by: TheKub

Originally posted by: swbsam
Silly question, but I've never had to snail mail checks for a few grand out before - should I send my payment via regular or fedex/registered mail?

Pffft checks.

I think my starter check book that I got way back in college lasted me like 3 years, and I think I still had some left because I couldnt bring myself to mail a check with kittens on it.

Ditto - I ran out of my free checks years ago and never felt compelled to get new ones. Now i have to order new checks just to pay the mortgage.. silly lender!

 

[sjwaste]

Originally posted by: swbsam

Originally posted by: OCguy
Regular works fine.

You could also have your bank send the check via online billpay if that is an option for you.

You know, I mentioned that when asking customer service for my account number - they said they prefer personal checks for now, and that in a few months the loan would be "sponsored" by a 3rd party, from that point forward we can pay by autopayment through our bank..

I found that a little weird, but I don't understand this stuff at all.

Thanks for the info!

Another question - when the 1st falls on a weekend, do we have to assume the due date is the Friday before, or is it not a big deal if they receive the check on Monday? Not that it's an issue - we have a nice buffer and plan on always paying our mortgage early, but.. OK, I absolutely hate USPS and am so used to getting things either late or lost by them..

It means they plan to sell your mortgage to a third party servicer. At that point, you'll probably have the option to pay online, since all of the bigger lenders/servicers do.

Our first mortgage was sold within the first month, no surprise there because the broker told us they first obtained an investor for the note, then sold it to them in the first month, and did not intend to service any mortgage that they sold beyond that time period.

They'll send you notice of who that is, and for a statutory period, you can pay either one. After that, you pay the new servicer or owner of the note.

 

[Modelworks]

You know you are old when you tell someone to balance a check book and they place it on their nose like a seal.

 

[OCGuy]

Originally posted by: swbsam

Originally posted by: OCguy
Regular works fine.

You could also have your bank send the check via online billpay if that is an option for you.

You know, I mentioned that when asking customer service for my account number - they said they prefer personal checks for now, and that in a few months the loan would be "sponsored" by a 3rd party, from that point forward we can pay by autopayment through our bank..

I found that a little weird, but I don't understand this stuff at all.

Thanks for the info!

Another question - when the 1st falls on a weekend, do we have to assume the due date is the Friday before, or is it not a big deal if they receive the check on Monday? Not that it's an issue - we have a nice buffer and plan on always paying our mortgage early, but.. OK, I absolutely hate USPS and am so used to getting things either late or lost by them..

Your payment is generally due on the 1st. You wont incur a late fee until after the 15th, and it doesnt hurt your credit until you are 30 days late. (Obviously you dont want to get in the habit of paying on the 15th, but you dont have to worry about a day or two due to weekends.)

Note this is how it is on every loan ive touched in CA, but it could be different with you, it will be on your note that should have been provided to you in loan docs.

 

[dullard]

Originally posted by: swbsam
You know, I mentioned that when asking customer service for my account number - they said they prefer personal checks for now, and that in a few months the loan would be "sponsored" by a 3rd party, from that point forward we can pay by autopayment through our bank..

I found that a little weird, but I don't understand this stuff at all.

Thanks for the info!

Another question - when the 1st falls on a weekend, do we have to assume the due date is the Friday before, or is it not a big deal if they receive the check on Monday? Not that it's an issue - we have a nice buffer and plan on always paying our mortgage early, but.. OK, I absolutely hate USPS and am so used to getting things either late or lost by them..

Many mortgages are started by a bank or mortgage broker, but then sold off to investors. This way, the bank takes a cut and has money to loan out again. The investors hire a 3rd party (often another bank) to handle the payments. So it is very common for you to pay a payment or two to the starting bank and then be switched to another bank.

Mortgages are generally due on the 1st of the month but have a 2 week window where late fees cannot be applied (I once heard a federal law gives you that leeway, but I can't confirm that). I have always paid mine on the 10th without any problems even though my due date is the 1st. So, don't worry about the 1st lying on a weekend. But, if you miss the 15th by even one day (no matter what the excuse), you'll face a late fee.

 

[swbsam]

Originally posted by: OCguy

Originally posted by: swbsam

Originally posted by: OCguy
Regular works fine.

You could also have your bank send the check via online billpay if that is an option for you.

You know, I mentioned that when asking customer service for my account number - they said they prefer personal checks for now, and that in a few months the loan would be "sponsored" by a 3rd party, from that point forward we can pay by autopayment through our bank..

I found that a little weird, but I don't understand this stuff at all.

Thanks for the info!

Another question - when the 1st falls on a weekend, do we have to assume the due date is the Friday before, or is it not a big deal if they receive the check on Monday? Not that it's an issue - we have a nice buffer and plan on always paying our mortgage early, but.. OK, I absolutely hate USPS and am so used to getting things either late or lost by them..

Your payment is generally due on the 1st. You wont incur a late fee until after the 15th, and it doesnt hurt your credit until you are 30 days late. (Obviously you dont want to get in the habit of paying on the 15th, but you dont have to worry about a day or two due to weekends.)

Note this is how it is on every loan ive touched in CA, but it could be different with you, it will be on your note that should have been provided to you in loan docs.

Phew, thanks for the info. Our broker was surprised that I wanted the mailing address/payment info so early and suggested that I "calm down" and wait for the documents in the mail, so I didn't want to ask him any more, deeper questions.

Thanks!

 

[swbsam]

Originally posted by: dullard

Originally posted by: swbsam
You know, I mentioned that when asking customer service for my account number - they said they prefer personal checks for now, and that in a few months the loan would be "sponsored" by a 3rd party, from that point forward we can pay by autopayment through our bank..

I found that a little weird, but I don't understand this stuff at all.

Thanks for the info!

Another question - when the 1st falls on a weekend, do we have to assume the due date is the Friday before, or is it not a big deal if they receive the check on Monday? Not that it's an issue - we have a nice buffer and plan on always paying our mortgage early, but.. OK, I absolutely hate USPS and am so used to getting things either late or lost by them..

Many mortgages are started by a bank or mortgage broker, but then sold off to investors. This way, the bank takes a cut and has money to loan out again. The investors hire a 3rd party (often another bank) to handle the payments. So it is very common for you to pay a payment or two to the starting bank and then be switched to another bank.

Mortgages are generally due on the 1st of the month but have a 2 week window where late fees cannot be applied (I once heard a federal law gives you that leeway, but I can't confirm that). I have always paid mine on the 10th without any problems even though my due date is the 1st. So, don't worry about the 1st lying on a weekend. But, if you miss the 15th by even one day (no matter what the excuse), you'll face a late fee.

Awesome, thanks so much ATOT life experience havers

 

[Baked]

How come you can't do auto payment through your bank monthly? I used that option when I took a loan from the credit union at work to pay for my car. I don't know, sounds like you'll miss a payment down the line 'cause some douchebag mishandle your payment.

 

[MustISO]

In 10 years and through 4 different mortgage companies we've never had a payment go MIA.

 

[ElFenix]

regular works fine. if you were concerned, you would use certified, return receipt. registered is for when what you're sending is independently valuable, like a bearer instrument that is payable to whoever happens to have it.