When I get a contract for the sale of my home do I continue to make mortgage payments until settlement...

Absolutely.. You should continue to make your payments until the deal is closed and funded.. the mortgage is in your name, and if you go 30 days late, then you won't be able to get another mortgage for a minimum of 3 months and for some lenders 6 months.. It's very important to keep the payments current.. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com

Are you s***ting me? For what possible reason would you think you are suddenly not required to make a mortgage payment just because you got an offer?

If someone is coaching you to NOT make the payments, be very leary! If you are in a short sale negotiation and you are not currently making the payments, then that is your call. If you are in a traditional selling process, please always make your payments. If you need some help with the possible purchase of your new home, don't hesitate to call on me.

If you don't, you will be responsible for the late charges. It will mess up your credit and possibly lead to foreclosure. If you think about it, what happens if after 30 days, the buyer is declined for his loan and cancels the contract and it takes another 60-90 days to get another buyer in and escrow closed? Do you really think your current lender isn't going to want their payments? It is ALWAYS your responsibility to make sure ALL of your payments are paid on time. ~ Bert Carpenter, The LoansA2z team of NOVA Home Loans ~ NMLS 40586 ~ Licensed in California and Arizona ~ www.LoansA2z.com 888-889-9950

Yes, always make your payments when due. Just let the settlement company know when you made your last payment.

are you doing a short sale?? if you are, your credit is already damaged, and it is up to your own moral code on what to do then..if you are a regular sale, and then yes, you need to make your mortgage payments , its 39 points for every late mortgage payment ..

Of course you do... Always make you payments when due.

Yes just because you have a contract it is not for sure that the sell will close, so you are still obligated to make your payments.