Skip Mortgage Payments For Holiday Expenses: How So?

The title of this article may be a little deceiving, however, this is exactly what we are going to talk about and that is how to Skip Mortgage Payments For Holiday Expenses.  Let me start this off by first saying that I am not suggesting that you skip any of your scheduled mortgage payments in order to buy holiday gifts.  If you were to do this you would affect your FICO credit score dramatically and having a late payment on your mortgage will hang with you for a long time.  For example, if you were to Skip Mortgage Payments For Holiday Expenses, they were reported to the bureaus, and you had a previous bankruptcy or foreclosure you would find it difficult to obtain a refinance of your existing home or to purchase another home.  Normally when you have a derogatory item/action on your credit report, lenders do not want to see late payments after these events have taken place since you have liquidated yourself of debts and/or a mortgage.  However, there is still a way to Skip Mortgage Payments For Holiday Expenses and if you haven’t figured it out yet, it is fairly simple, and that is to refinance your home.

Skip Mortgage Payments For Holiday Expenses: Refinancing Your Home

First of all, as long as you are not going with an FHA Streamline Mortgage Refinance where you do not get to skip a payment, you should be good to go.  Now the next thing you will need to calculate is if you want to try and skip just 1 mortgage payment or if you’d really like to skip 2 months worth of payments.  We will go over both scenarios on how to make this work below so you can Skip Mortgage Payments For Holiday Expenses.

1. Skip 1 Payment: Close on your refinance between the 16^th and the end of the month.  Doing so will allow you to include the current month interest owed in your payoff amount of your existing loan and your payment will be due the 1^st of the following month.  For example, you make January’s payment, you close your refinance on Jan 23^rd, your first payment will be due March 1^st.
2. Skip 2 Payments: Close on your refinance as close to the beginning of the month as possible but no later than the 15^th of the month.  The 15^th is significant because most mortgages include a 15-day grace period by which time your mortgage has to be paid.  So let’s take for example you close on January 7^th, you are still within your grace period so this is okay, you will NOT make your January payment, and your first payment is still due March 1^st.

As you can see in the options above, it is very dependent on the closing date as to whether you have the ability to Skip Mortgage Payments For Holiday Expenses.  If it is possible for you to refinance your home and you can skip a month or two of payments then why not.  If you’d like to see if you can Skip Mortgage Payments For Holiday Expenses then you need to call or text today at 888-900-1020, email me at contact@loanconsultants.org, or apply through my website www.loanconsultants.org.