If I had a mortgage payment due on the 15th which was a Sunday and the 16th was a bank holiday, can my mortgage company charge me a late fee?
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If I had a mortgage payment due on the 15th which was a Sunday and the 16th was a bank holiday, can my mortgage company charge me a late fee?
Is that legal? They claim they worked on the 16th so it was appropriate but the post office was not delivering. They processed my payment on the 17th.
Asked on February 27, 2015 under Business Law, Florida
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
If, as per the terms of the agreement, there is no grace period and you owe a late fee any tine the payment is late, then yes--then can charge you a late fee in this case. It is your responsibility to send the payment out with enough extra time to make sure it gets there on time.
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