Home mortgage interest is paid in arrears, not in advance. Unlike most loans, mortgage principal and interest are paid in arrears. This means that when you make your payment on the first of a month--all contemporary mortgage loans are written as of the first of the month--you are paying the previous month's interest.hen you have sold your home or refinance it, the interest in arrears feature may be less attractive. If you close your sale or refinance on the 18th, your mortgage payoff will be higher than your apparent outstanding balance.
June 17, 2009. Finding an old check at the bottom of your drawer doesn't necessarily mean you'll get a boost in your bank account. You generally have six months to cash or deposit a check. If you have one that was written earlier than that, a bank or credit union isn't obligated to honor the item.
RE: ff: Most checks are stale dated after 6 months, unless specified by the check. IE: Not valid after 90 days or something similar. However, say for instance you wrote a check in December of last year and the person you wrote it to just cashed it yesterday. work at a bank, and youâre 100% correctâ¦banks do not have to accept checks more than 6 months old and usually donât. However, there is always wording in bankâs disclosures that say theyâre not liable if they do accept them (i.e. if a teller doesnât notice the date and deposits it).