If you mortgage payment is timed with your pay, you should get it fixed asap.
Any mortgage experts here?
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.
Thanks.
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.
Thanks.
1 - 1 of 4 Posts
1 - 1 of 4 Posts
- This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Canadian Money Forum
A forum community dedicated to Canadian personal finance enthusiasts. Come join the discussion about investing, stock portfolios, equities, frugality, real estate, market trading, taxation, retirement, and more!
Full Forum Listing
Explore Our Forums
