Bank of America Cuts Grace Period For Mortgage Payments

If you’re like most people, your mortgage is due on the first of the month. But your lender gives you until the fifteenth to make your payment before you incur a late fee.

Bank of America is changing the status quo – and not for the better.

As of February 14, 2011, many homeowners with a Bank of America Mortgage will find their grace period cut almost in half!

Read more at,  B of A redefines ‘grace period’ with new fee.