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December 07, 2006


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I actually contacted my mortgage company to see about paying early. We have our mortgage paid via ACH every month on the 1st, but it actually gets pulled on the 3rd. I asked if I could get them to move it, one time only, to be at the end of December, but not before December 29th, since that is when my direct deposit goes in to the bank.

The representative said that could schedule it early, but it would be based off of the 14 day grace period, and as such, would come out on December 15th, even though we have already paid December's note. I asked her then if I could just cancel the ACH program and send her a check, and then start the ACH again for February's payment (even though I plan to refinance before then). She said that was fine.

At that point, I asked the representative about what year the payment would be applied, for tax purposes, if we send the check on December 28th, and it does not arrive to them, based on the weekend and New Year's holiday, until January 2nd or later. She said that no matter when I pay it, it would be applied for 2007, and that she had never heard of people making a payment early to write the interest off for a different year. Obviously, she has been living under a rock, or she is just incompetent at her job, or both.

I am going to call back again, to see if I can speak with someone else, and maybe even a supervisor.

Dus10, the lady you called sounds like she has been poorly trained. I've been making and benefitting from early mortgage payments for years.

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