No. of Recommendations: 1
This is very wierd. And contrary to all the discussions I have ever had with my mortgage companies. They have always said, "If you pay extra, that goes toward the loan or to the escrow account. It does *NOT* count as a future payment. If you make 2 payments in May, you cannot skip the June payment." "If you are going to be out of town in June, then have somebody mail in your June payment for you, after the 1st of June."

It depends. If you make 2 full payments, under the terms of the servicing agreement with the investor and the terms of the note, the mortgage servicer may be able count them as 2 separate payments. If you add extra to your payment, but it's not enough for a full additional payment, then the extra will generally be credited toward principal, unless there are other fees due on the account.

The book-keeping requirements to handle "paying forward" would be very large, and I can't see the typical payment processor doing it.

Not really. It's done with auto loans all the time.

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