Posted on: 19th Nov, 2012 05:29 pm
My granddaughter sent a late payment online to the mortage company after default, but they refused the payment. Does she have any recourse or can they proceed with foreclosure?
Hi ohnome,
It is the lender's discretion whether or not they will accept the late payment. You and your granddaughter can negotiate with the lender and request him to accept the late payment. This might help you in avoiding foreclosure.
Thanks
It is the lender's discretion whether or not they will accept the late payment. You and your granddaughter can negotiate with the lender and request him to accept the late payment. This might help you in avoiding foreclosure.
Thanks
Welcome ohnome,
I agree with what James has said. It is completely the discretion of the lender as to whether or not he will accept the late payment or continue with the foreclosure process. Normally lenders don't go for foreclosure unless you're 3 months or more late on your payments.
I agree with what James has said. It is completely the discretion of the lender as to whether or not he will accept the late payment or continue with the foreclosure process. Normally lenders don't go for foreclosure unless you're 3 months or more late on your payments.
You can request your lender to accept the late mortgage payment. The lender may agree for it since the other option that he has is to go for foreclosure.