Loan Servicing Question: Skipping a payment during a refinance
Hello all,
I am in the middle of a refinance right now. For reference, I usually pay my mortgage on the first and was planning to make my payment per usual on May 1st.
Since I am scheduled to close on May 7th and I technically do not have to pay until the 10th, am I okay to schedule my payment on May 10th and basically skip this payment with my old lender once I close on the 7th? Will this impact anything with my refinance through a different or is this a somewhat normal practice?
I would essentially skip May as I close the new refinance before the grace period is over, then I will also get to skip a payment in June with my new lender. I would then make my new payment on July 1st.
Any insights? I sure don't want to screw anything up with my refinance.
Thanks in advance!