Yes. In most cases, the grace period is stated in your promissory note. Loan payments received within the grace period will not incur charges. If your due date falls on a weekend or holiday, your grace period will not start until the next business day. Your billing statement lists the date after which your payment is considered late under the Amount Due listed at the top right of your statement.
Past-Due Payments
What happens if I am past due with my payment, or miss a payment completely?
Typically, you would be assessed a late fee and late payments may have a negative effect on your credit rating as Rushmore is obligated to report late payments to credit bureaus every month. If you anticipate having difficulty, please contact our Home Retention Counselors immediately at 888.504.7300.
Please visit our Mortgage Assistance webpage to learn more about all options available and how to apply for assistance.
I am having trouble making my monthly mortgage payment. What do I need to do to get help?
If you are having difficulty with your payments, or if you anticipate having difficulty in the near future, please contact our Home Retention Counselors immediately at 888.504.7300. Even if you feel you do not have any resources or ability to pay your loan, our Counselors may have options to discuss with you.
Please visit our Mortgage Assistance webpage to learn more about all options available and how to apply for assistance.