Buying A Home
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Your last month mortgage payment
This is a dumb ?, sorry!
How does your last month mortgage payment work? We paid our full mortgage payment for June already but we close on the sale of this house on the 15th..so we only own it through the 15th. Will we get back a prorated amount at closing? A refund check back from the bank later?
Re: Your last month mortgage payment
Right before closing the title company will get a current payoff balance from your mortgage holder. If you close on the 15th, the title co will request payoff as of 6/15 and the mortgage company will send it to the title co. You will get a check at closing for the sale price - mortgage balance as of 6/15 - realtor fees/other fees which should be on the HUD for you as sellers.