This is a question that is asked a lot. The short answerer is yes you do.
We are often told by a borrower who is trying to, or in the middle of a refinance or sell of their property that their broker, realtor or lawyer told them they do not have to make the regular scheduled mortgage payments because they are refinancing and the loan or selling the property and it will be paid off soon.
This is bad advice for a few reasons. The first when you took the loan a note and mortgage was signed and that calls for monthly payments every month and it does say you can skip payments while trying to refinance or sell a property. You are obligated and your lender expects that you make a payment every month and if you don’t you will incur late fees, additional interest, and maybe default fees and interest. Not to mention this may hurt your credit,
It maybe not be the 1 of 2 payments that you skipped that’s the real issue, we have seen this start of as a small issues but when the borrowers refinance or sale does not go thought this can spiral into a larger issue. Usually as this point the person giving you this poor advice is long gone and your left to deal with the mess is caused.
Our advice, is to make all payments on time, if there is a reason that you cannot make the payments on time. Contact your current lender explain the reason and see if they will allow you to skip a payment or make a partial payment and get some agreement with them in writing. Only do this is necessary and you have a written agreement.