Can you skip a house payment?

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asked Jul 18, 2020 in Real Estate - Renting by Wificalling (370 points)
Can you skip a house payment?

1 Answer

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answered Jul 19, 2020 by Cathy21 (85,770 points)
Yes you can skip a house payment or mortgage payment but you will usually pay a late fee when you do skip a house payment.

There have been a few times where I was running short on money and had to skip a few house payments on my mortgage through the year.

I then paid the full amount of those 2 missed house payments at the end of the year when I got into a better financial spot.

However I did call the bank and let them know what was going on and since I was current with all my other mortgage payments for 5 years the bank never charged me a late fee.

But some may still charge the late fee for a missed or skipped house payment.

Just call the bank up and let them know what is going on and they will usually work with you.

Some banks and mortgage lenders allow between 1-4 monthly mortgage payments to be skipped or missed through a year.

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