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Reply to "Refinancing question - when to make the last mortgage payment"
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[quote=Anonymous]We are in the process of refinancing and are due to go to closing on 9/5. The mortgage with the current lender is generally due on the first of each month and there is a grace period until the 16th. After this date, they will assess late charges. Since we are closing on the 5th, do I still need to make the mortgage payment to the old lender on the 1st of the month? I'm confused about this. I asked my loan processor, but he said that he could not give me advice on this issue.[/quote]
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