Late mortgage question
Date: Thu, 07/08/2010 - 18:19
I have paid my mortgage late for the past year and a half. I have always paid it about 29 days late. With a recent loss of income I had to skip another payment, so on August 1st I will be 60 days late. I will have the money to pay 1 payment on the 30th which would mean that I would be technically never go to 60 days past due.
Problem: I spoke with my mortgage company tonight and they informed me that they would not accept 1 payment on the 29th because "the law says that they are not allowed to take payments less than what would allow the account to be 30 days late"
Does this make sense? Any advice out there? I cannot pay 2 payments at this time.
Problem: I spoke with my mortgage company tonight and they informed me that they would not accept 1 payment on the 29th because "the law says that they are not allowed to take payments less than what would allow the account to be 30 days late"
Does this make sense? Any advice out there? I cannot pay 2 payments at this time.
Usually when they do that it's because they either want you to g
Usually when they do that it's because they either want you to get into a positive place or start you into the foreclosure process. I would send the payment in and see if they take it or return it. I would also talk to them about moving your late payment to the end of your loan so that your 1 payment you send in puts you within that 30 day range. They most likely won't do that but it's worth a try.
