Grace Period and Late Payments. Explains your grace period and when payments are considered late

Biweekly AutoPay will automatically draft a half-payment from your account every 2 weeks (14 days). There will be 26 withdrawals a year. There will be 2 months during the year when a 3rd half-payment will be drafted and posted to the account, as a principal payment.

A repayment plan is an agreement that spreads the past due amount over a specific period, typically 3–6 months, during which time you make a full payment, plus a partial payment, until the account is brought current. Repayment plans can be an ideal option for homeowners who fac...

Learn how to make payments on your mortgage account with Mr. Cooper. Find out the accepted payment methods, types, and options for online, auto, phone, mail, and in-person payments.

Payments are considered late, and late fees are assessed, at midnight when your grace period ends and are calculated as outlined in your Note. If you think you may not be able to make your payment on time, please contact us and let us know.

Learn how to recast your mortgage and lower your monthly payment by making a lump-sum payment toward the principal balance. Find out the eligibility requirements, fees, and process for recasting your loan with Mr. Cooper.

If you qualify for a loan modification, some potential ways to reduce your monthly payment would be through lowering your interest rate or extending the term of the loan. Specific eligibility requirements may vary depending on the loan’s investor or other factors.

A repayment plan is an agreement that spreads the past due amount over a specific period, typically 3–6 months, during which time you make a full payment, plus a partial payment, until the account is brought current. Repayment plans can be an ideal option for homeowners who fac...

This option helps reduce the overall interest paid on the loan and accelerates the payoff by making two extra half payments each year. Then just choose a payment start date, confirm the payment amount, and enter a bank account. We’ll automatically deduct the payments going fo...

You can prevent this additional monthly payment increase by paying the shortage as a lump sum before the new payment effective date, but this lump sum payment is not required and is completely voluntary.