Question:

What to do with late payment fees?

Answer:

You will have to pay the late payment fees. If you can't avoid late payments, then pay them as soon as possible.

Unfortunately, late payment fees are incurred after a 10-15 days after the due date and the more you are late, the greater late payment fees are incurred. Interest and payments can make it a significant sum to pay the lender, especially if you are more than a month late.

Unfortunately, you cannot postpone paying late fees. If you simply continue making mortgage payments, you are still getting late fees and you payments count as late until they are cleared. In fact, not all lenders will harass borrowers with constant late fees, but some will. Try to settle this talking to a customer support rep or their manager. If you can't, you may need to complain to a consumer protection bureau.

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