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Old 01-28-2012, 03:16 PM   #28
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Originally Posted by Mom2Connor
So if they had been applying the extra towards the next month, wouldn't I see that when I receive the statement each month? IE: wouldn't the next month say I owe less instead of the usual amount?

I will definitely give them a call Monday and ask about what happens when I sent in extra with the mortgage each month. I don't send it in seperately, I just add it into the actual payment. I really do not want to have to send an actual check each month, that is a PITA.
Yes. If you don't ask you will see it on your statement. I look at my mtg statement online every month. Or every two weeks or so actually. I would be able to tell right away. However, I have mine set up to be all one payment, I don't pay the extra amount seperately so on my statement it shows up as one mtg payment every two weeks with x amount to principle and x amount to interest. Our interest rate is so low right now too that we are putting about 1100 a month on the principle and only about 100 in interest. It's nice to see the principle going town so fast.

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