The Millstone Times January 2019
It’s important to always pay your mortgage on time. Your payment is due on the 1st of every month. If your payment is late, your servicer may charge you a late fee and attempt to contact you. The good news is that, you have until the 15th of the month to make your payment before a late fee is charged. A late fee can be charged for each month that you miss a payment. Additional fees can also be charged if you go into default (more than 30 days late). If you miss a mortgage payment, your loan will be “past due.” If your loan is 30 days past due, it may be reported on your credit report. A single late or missed payment on your credit report can reduce your credit score.