Video answer: When is a mortgage payment actually considered late?
Top best answers to the question «When is a loan payment considered late»
If you can't make your payment by the end of your grace period, it's officially considered late. In the short term, this means you'll pay a late fee. The amount of the fee depends on what type of loan you have. In some cases, the amount charged for late payments is also limited by state law.
Video answer: When is a mortgage payment considered late