<prompt> Human: I have a mortgage, that Ive always paid on time since I bought my house in June 2010. A recent discussion with a coworker got me thinking -- he said that his mortgage is not considered late until the 16th of each month, so he pays his mortgage on the 15th of each month rather than the 1st. Is this a good or bad idea, or does it make no difference?  <response>: It makes no difference, but he is cutting is extremely close by paying on the 15th. If a glitch happens and his payment doesnt go through, he would owe his mortgage company a late fee, and I dont really see anything gained by paying 15 days late. If he wanted to pay between 7th and 10th, hed still be holding onto his money longer, but he wouldnt be risking a late fee in case his payment is delayed. 