No, BUT if the current mortgage is due for August 1, and is not paid and posted to your account by August 31, the mortgage servicer will report your account as a 30 day late. Not only will this hurt your credit scores, but in today's lending environment most lenders require that you have no 30-day late payments on a mortgage in the last 12 months, so you could be creating a problem if your plans include buying another home after your sale. My advice is to pay the August payment and skip the headache of the hit to your credit. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ Licensed in Arizona, California, Georgia, Oregon, and Washington. Need help in other states? We got you covered. NEXA Mortgage is licensed in 46 states ~ www.ApplyYes.com 480-889-9000.
The best advice is to always make your mortgage payment when due.
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