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As a seller, if you are closing on your home June 15th and you have a mortgage payoff statement from the lender good through July 1st, do you still make your regular payment on June 1st?? Or pay a prorated amount? Just wondered the experience of others.
You really should make your regular payment. Crazy things can happen at the 11th hour of a closing and you don't want to be hit with a late fee.
Also, right before paying off the mortgage the title or escrow company is supposed to request a updated payoff statement and that will reflect the payment that you made or mailed on the 1st.
Either way you'll get it back at closing with the updated payoff.
I would also check to see when your mortgage payment is due.
Some companies give you 15days after the due date to pay.
...and ultimately if the payoff lender receives too much money, they are required to refund the over payment to you immediately. I have always advised my clients and customers to make the payment, even if the closing is to take place a week or so after that.
As a seller, if you are closing on your home June 15th and you have a mortgage payoff statement from the lender good through July 1st, do you still make your regular payment on June 1st?? Or pay a prorated amount? Just wondered the experience of others.
TIA!
your mortgage payment is still due! the lender will credit you back any money over-payment within 6 weeks (i think ) is the law.
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Or pay a prorated amount? Just wondered the experience of others. 
