Posted on: 11th Sep, 2007 11:36 am
I recently sent my mortage company a payment for my June mortage bill, but they refused the check because July and August are now due. Can they do this? If they can, shouldn't I have been informed beforehand?
Clinton, they can do that. Loan is already in default. They can foreclose after the loan is in default but normally do so when the payments are behind by 90 days.
You should check the mortgage documents that you were provided after the closing. It must have been stated there.
Miller
You should check the mortgage documents that you were provided after the closing. It must have been stated there.
Miller
"I recently sent my mortage company a payment for my June mortage bill, but they refused the check because July and August are now due. Can they do this? If they can, shouldn't I have been informed beforehand?"
You should contact them to know what needs to be done to bring the mortgage current.
They will let you know whether you will be required to pay the total default amount at a time or some other method can be used.
You should contact them to know what needs to be done to bring the mortgage current.
They will let you know whether you will be required to pay the total default amount at a time or some other method can be used.
Hi Clinton,
When you are already behind on payments for two months, the lender has every right to refuse your payments. Now you need to bring the loan current and continue with the regular payments.
When you are already behind on payments for two months, the lender has every right to refuse your payments. Now you need to bring the loan current and continue with the regular payments.
This is common. The lender wants you to pay the June payment as well as the July and August payments all at once. They don't have to take any lower payment at all other than bringing the debt current. They can even be as picky as this: say you owe $3008.85 and you send them $3008. I have heard of lenders turning this away as being short $.85
