Signing contracts this week on property I'm selling. Planning towards closing date of early July and I've questions about mortgage payment and timing.
My monthly mortgage payment is due on the 7th of every month. Should I be aiming to complete the sale and redeem the mortgage before the 7th of July (i.e 1st - 6th of July) to avoid another monthly mortgage fee?
I assume if I paid the monthly installment on the 7th and then closed a couple of days later that I'm not going to see the installment money be repaid to me?
My monthly mortgage payment is due on the 7th of every month. Should I be aiming to complete the sale and redeem the mortgage before the 7th of July (i.e 1st - 6th of July) to avoid another monthly mortgage fee?
I assume if I paid the monthly installment on the 7th and then closed a couple of days later that I'm not going to see the installment money be repaid to me?