CitiFinancial
Mortgage Payment on Due Date: Only $78 Applied to Principal
- 04-30-2008
- 13
My mortgage payment is due on the 20th of the month, with a 10-day grace period. When I pay on the 20th, they apply only $78.00 to the principal and the balance of $672.00 to the interest. How can that be possible when I pay on the due date? If anyone out there can help me understand why, I could use some help.
Company: CitiFinancial
Country: USA