Submitted February 06, 2014
Can I set up a bank account to pay my mortgage automatically in case I forget?
I hate paying late fees, and the ones on my new mortgage are HUGE.
You can do this online with most major banks and your bill pay system. Any bill can be payed this way. You can do it with your current account most likely.
Yes ...you should be able to. Inquire with your lender / servicer as to the process
Yes. Highly recommended. Mortgage has the largest impact on your credit score so missing a payment is much worse than just the late fee. Call your mortgage servicer.
yes...you can either have the payment come out of an existing account or open a new account for this to be linked to the new loan ...contact current lender/ servicer to coordinate :)