1 100 Minecraft Getting Story-Driven Series from Telltale GamesMinecraft: Story Mode -- A Telltale Game Series coming in 2015 to consoles, PC, and mobile devices.
After closing, your first mortgage payment comes due one full month after the last day of the month in which your mortgage closed. Using the April example again, if you close April 15 or April 29, your first mortgage payment is due on June 1.
(We'll talk more about how to get a loan in a minute.) The bank loaning the money is the lender. The amount you pay to the bank each month is your mortgage payment. The rate of interest on the loan is the mortgage rate (or the interest rate).If you don't make your mortgage payments then the bank will repossess the house. (This is called foreclosure.) Then they'll sell it to make sure that they can recoup the money they loaned to you, and that you didn't pay back.he amount you pay to the bank each month is your mortgage payment. The rate of interest on the loan is the mortgage rate (or the interest rate). If you don't make your mortgage payments then the bank will repossess the house.