Posted on: 22nd Jan, 2011 02:53 pm
Hello All
Need a little advice please for my parents who own a vacation home in Florida, long story short they are having money troubles and have been a little late with the payment and its a month late.
So they call BU and BU say they wont accept payment and they want the current month as well so its all or nothing, my mother tries to explain that she won't be able to get the January payment till a few days in Feb so they said at that time she will have to pay three months and catchup but the trouble is the right now she is going to keep being a couple of weeks behind till she is able to get more work.
It seems silly they won't take available cash straight away but instead they keep telling her to come back when she has more money.
Has anyone had this trouble before or any ideas how we can give them a payment. Never heard of a mortgage company not wanting to take payment before, its not like she is several months behind.
Thanks you
Stuart
Need a little advice please for my parents who own a vacation home in Florida, long story short they are having money troubles and have been a little late with the payment and its a month late.
So they call BU and BU say they wont accept payment and they want the current month as well so its all or nothing, my mother tries to explain that she won't be able to get the January payment till a few days in Feb so they said at that time she will have to pay three months and catchup but the trouble is the right now she is going to keep being a couple of weeks behind till she is able to get more work.
It seems silly they won't take available cash straight away but instead they keep telling her to come back when she has more money.
Has anyone had this trouble before or any ideas how we can give them a payment. Never heard of a mortgage company not wanting to take payment before, its not like she is several months behind.
Thanks you
Stuart
Hi stuart,
There are banks who won't accept partial payments. They will want you to pay off the dues in full. Bank United has, thus, asked your mother to pay off all the dues in full. If she is facing hardship regarding the mortgage payments, it will be better if she could apply for a loan modification and try to get an affordable payment plan to pay off the dues.
Thanks
There are banks who won't accept partial payments. They will want you to pay off the dues in full. Bank United has, thus, asked your mother to pay off all the dues in full. If she is facing hardship regarding the mortgage payments, it will be better if she could apply for a loan modification and try to get an affordable payment plan to pay off the dues.
Thanks