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can i skip a mortgage payment and add it to the end of the balance loan?

13 Answers

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  • B
    Lv 7
    7 months ago

    most certainly not. if you need to discuss your mortgage, go into the bank and speak with someone familiar with mortgage documents at the bank where you got the loan. it is not really standard to allow any thing but on time payments.

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  • 8 months ago

    That will add immense interest costs! Plus penalties, late fees, etc. Expect missing a $1000 payment will end up costing you $3000-5000, depending on how much longer your mortgage runs, interest rate on your mortgage, etc.

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  • R P
    Lv 7
    8 months ago

    You can but only if your lender permits you to do so.

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  • 8 months ago

    Nope, not at all how it works.

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  • Judy
    Lv 7
    8 months ago

    not without permission from the lender, and you'd be charged additional interest.

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  • 8 months ago

    No and in theory if the mortgage company did allow this then you'd owe that mortgage payment plus maybe 30 years worth of interest onto the end of the loan so this could extend the life of your loan by 6 months easily. This is all academic however since you can't skip a mortgage payment.

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  • Anonymous
    8 months ago

    Not usually. If you could, it would cost a lot more than 1 payment because of interest over the remaining years.

    If you get behind and incur multiple late fees they will sometimes put it on the end of the note but it would be very costly and hurt your credit.

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  • Anonymous
    8 months ago

    Ask your lender.

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  • 8 months ago

    You might get your lender to go along with that.  But usually no.  They depend on that money coming in every month so they can lend it out to others.  You would basically be making another loan.

    With interest, that one payment might be double or triple at the end of the loan!

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  • Maxi
    Lv 7
    8 months ago

    That you will have to ask your mortgage provider

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