The first mortgage payment is usually due a full month after your closing date — on the first day of the month. When you make mortgage payments, you’re paying for the previous month, not the current ...

Missing a mortgage payment can have ripple effects for your credit score and finances. Understanding exactly when your lender considers payments late — and when it is reported to credit bureaus — is ...

Virtually all commercial real estate loan documents contain a provision providing that if a payment is not timely, a late fee is imposed in connection with that late payment—typically 5% of the amount ...