Mortgage Grace Period: What It Means For You
Mortgage grace period: What It Means For You is an important question to ask if you have a mortgage. A mortgage grace period is a specific time frame during which borrowers can make their payments without incurring late or default fees. With the right knowledge and understanding of this important concept, you can avoid costly mistakes and maximize your financial well-being.
A mortgage grace period is typically the 15 days after the payment due date that loan servicers give borrowers to make their payments before charging late or default fees. During this time, no additional penalties are added to any existing mortgages, so it's important for borrowers to take advantage of this window of opportunity.
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