Last Mortgage Payment?

[Caveman]

Selling a house... My payment is due about the 5th of each month... If the buyers close on the house at the end of the month, how much do I owe...

This all has to do with paying in arears I believe...

Isn't the last payment always 1 month behind? In other words... If I make a payment in early July, and the house closes at the end of July, don't I owe the equivalent of another payment which would be part of my payoff cost when the house closes?

 

[Beau]

Call your mortgage company

 

[dartworth]

Originally posted by: Beau
Call your mortgage company

fo sho!

 

[TripleAAA]

Call your mortgage company and request a payoff statement. Congrats on selling your house, but make sure you have money in hand before you start making any huge plans.