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Michele Sells VA
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Michele Sells VA
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In the time that it takes to write one check, you can set it up with your bank and never have to do it again. You won't have to write checks, envelopes or buy stamps anymore. You'll save time, money and benefit in other ways too.
Schedule the Auto Pay to allow for processing and the time it takes to reach the lender so that you don't incur late fees. And even though, you set up the Auto Pay, it is still your responsibility to monitor your bank account to see that they are executing it properly. If you are making additional principal contributions, you must see that the extra amount was indeed applied to principal reduction and not somewhere else like in the escrow account. Some banks offer email or text reminders to let you know when checks are about to be written or if your balance is low.
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