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Skip a Payment Mortgage Option

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We get these offers twice a year from our credit union.  The catch is they charge you $25 to do it!  We have always paid extra on our mortgage.  Genius, because if you have to skip a payment or 3, you can without penalty or having to pay the $25.  They just extend your loan for the payment you miss.  Win-win for them, they have charged you $25 to do it, plus the extra interest they get by the loan extension. Not happening....if you can add extra to your payments it's kind of like insurance if you have to occasionally skip a payment.

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