Legal Question in Real Estate Law in New Jersey

i live in new jersey , i am almost 3 months behind on my mortgage i will make one month full payment before that third payment becomes due, but just make it, i cannot come up with another full month payment, can i make a partial payment to try and catch up and does the mortgage company have to accept it and can they post it to my past due payment.


Asked on 6/18/16, 12:17 pm

2 Answers from Attorneys

Miriam Jacobson Retired from practice of law

Most mortgage companies do not accept partial payments, so it is probably a waste of your money to make a partial payment. However, do not take my advice on this. You must consult a lawyer ASAP to assist you with this. DO NOT CONSULT ANY COMPANY THAT PROMISES TO FIX YOUR CREDIT IF THEY ASK YOU FOR MONEY TO HELP YOU.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.

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Answered on 6/18/16, 12:32 pm
Jef Henninger, Esq Law Offices of Jef Henninger, Esq.

Some lenders do accept partial payments and put that money in a separate account that they can use later to make one full payment once you've paid more. You'd have to ask your lender. However, you will continue to accrue late fees. It sounds like you are in a very tough spot and unless you can make a big enough payment to cure your account, you are going to continue having a problem. If you'd like help resolving this, call me at 1-855-9-JEFLAW.

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Answered on 6/18/16, 2:54 pm


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