Can I skip a mortgage payment?

[q-school]

also not direct answer to your question, but obviously you can skip a payment.  your question relates to the consequences of skipping.
I think unstated is whether you should be paying extra towards principal prepayment or establishing your emergency fund as a higher priority.

good luck!

in a few years, none of this will matter much except possibly if you hurt your credit score.

[Mminter]

Best way to go is to get the right answer from your bank.

Unfortunately, the way their computers operate, you cannot “save up” payments during times of financial plenty and have them apply to some future period of

financial drought.

The companies want a payment from you every 30 days or so. So you really aren’t ahead, even though you have made extra payments. They just applied extra

payments to lowering your loan balance but they expect you to keep paying each month. Miss a payment and they will charge you late fees and notify the

credit agencies, and they will lower your FICO score.

I would not take the risk before getting the right answer from your Bank.

There certainly is an advantage in sending in a lump sum because once you pay them one dollar, you stop paying interest on that dollar forever.

You will save slightly more than spreading out that payment.

When you pay sooner you start saving sooner.

 

 

[djohnflatfeecfp]

Hey, I just like your logo - Go Bucks!

 

Seriously, I'm glad you questioned the "unsure" answer from your bank and took the time to talk to someone who knew the correct answer.  I'm amazed how many people will guess instead of just saying - "I don't know. Let me find out and get back to you with the right answer."