Closing on refi (question on timing)

[flygirl]

We’re finally getting our refi scheduled to close, but it’s set up for Sept 2 with a Sept 11th payoff date due to the holiday and the 2 days the refi bank gives the prior mortgage company to pay it off.  This makes me nervous not to pay September’s payment.  I am pretty sure we have til the 15th before it’s late, but it makes me nervous not to pay on time.  However, I don’t want to pay $800 in interest for Sept just for fun either.  Have you been in this situation and what would you do?  Make the Sept payment or let the payoff take care of it even though it’s not on the 1st?

[madisen]

You always have until the 15th of that month to pay your mortgage without incurring a late or a late fee. Looks like your payoff will take care of it if it funds in time and on schedule.

And you're not considered as having a 30 day late (which is killer for your credit) until 30 days after that.

I always make my mortgage payment on the 14th of the month and have never had an issue.