It’s important to make your mortgage payments on time to and avoid late fees and penalties, maintaining your credit score, and keeping your home out of foreclosure.
1. Set up automatic payments: most lenders offer the option of setting up automatic payments, which deduct the mortgage payment from your bank account on a specific date each month. This makes sure you payment is on time and you don’t forget to make the payment.
2. Set reminders: If you prefer to make your mortgage payment manually, set a reminder on your calendar or phone a few days before the payment is due. This gives you enough time to make sure you avoid late fees.
3. Make extra payments: If you have some extra cash on hand, consider making an extra payment towards your mortgage. This can help you pay off your mortgage faster and reduce the amount of interest you pay over time.
4. Prioritize your mortgage payment: Make your mortgage payment a top priority each month. If you are struggling to pay all your bills, make sure you pay your mortgage payment first to avoid late fees and protect your credit score.
5. Communicate with your lender: If you’re having trouble making your mortgage payment on time, don’t hesitate to reach out to your lender. They may be able to work with you to adjust your payment schedule or provide you with options to help you stay current on your mortgage.
President & CEO | NMLS ID: 69586
Raleigh Mortgage Group, Inc.
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