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Any mortgage experts here?

3989 Views 3 Replies 4 Participants Last post by  lb71
I've noticed that my bank has been pulling my automatic mortgage payment a few days early for some time. An example is my May 19 payment came out yesterday morning May 15 from our account.

I'm not sure if there should be a corresponding reduction in interest paid as the payment is coming out early or if it would be an amount worth looking into.

We have $73,000 remaining at 5.31% fixed and pay $303 bi-weekly locked in for another 7.8 years.

I will be calling the bank Tuesday morning and any input in the mean time would be appreciated.

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But it would be a problem if your account goes into overdraft because the mortgage was withdrawn 3 days before your paycheque was deposited.......
If you mortgage payment is timed with your pay, you should get it fixed asap.
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