Legal Question in Banking Law in California
Business was slow and I got behind on my home equity loan. When I went to the bank today to make a payment they refused and told me my loan went into foreclosure 2 days ago and I would need to wait for their attorney's to contact me in about 2 weeks and I would need to pay the full past due plus legal fees. I was never notified other than late notices and wonder can they do this and can they refuse to take my payment?
Asked on 3/31/16, 6:22 pm
1 Answer from Attorneys
Yes. Once you are in default they have the right to refuse payments unless you tender enough to bring the account current, including all fees, charges and expenses.
Answered on 4/01/16, 7:38 am
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