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Changing mortgage payment date
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simonts
Posts: 349 Forumite
Our mortgage payment date is set to the last day of the month, This used to work fine as we both get paid on the 21st of each month which has now changed.
The question they were totally unable to answer was if this will cause a problem. I pay the whole payment from my account and I assume my payment from my employer clears at midnight on the last working day of the month, However GMAC request the payment 4 days before it is taken on the last day of the month..Will the funds be available?
Unfortunately I cant just ask them to change the payment date to the 1st because they will want the payment for this month then the next payment on Dec 1st totally messing out finances.
The question they were totally unable to answer was if this will cause a problem. I pay the whole payment from my account and I assume my payment from my employer clears at midnight on the last working day of the month, However GMAC request the payment 4 days before it is taken on the last day of the month..Will the funds be available?
Unfortunately I cant just ask them to change the payment date to the 1st because they will want the payment for this month then the next payment on Dec 1st totally messing out finances.
Debt Free Marathon: Start 01/06/09 £16714 - Current Position £14514 - Finish Line Xmas 2010
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