Not an expert on this, but...this is how my brain is seeing this.
My mortgage is due on the 1st, I pay on the first, statement cuts on the 12th. I have a 10 day grace period.
If I make the payment on that day, (12th post stmt cut) a huge payment goes to principle and a small payment goes to interest.
(So let's say it was now and I paid Jan 12 for the Feb 1 due - technically I do not have a payment due until March 11).
My interest would have only been for 12 days. As I understand it, we pay past interest, not future interest.
Now, if I literally do not make the next payment until March 11th and fully use the grace period, I will have accrued interest for basically 58 days. That would mean I had less going to Principle and more to interest from that pymt.
I could be completely off my mental rocker with this example.
So my question is, was your double payment actually a true double payment or was it a payment to cover two months due? I know when I pay my mortgage online, I get to choose: Pay scheduled payment, Pay add'l escrow, Pay add'l principle. It makes me select at least one and specify the amount I am desiring to pay when I choose Pay add'l escrow or add'l principle.
