Legal Question in Credit and Debt Law in Florida
can a Mortgage company return a late payment?
I was currently late on my mortgage payment by two months. I sent the mortgage company one payment and told them the other would be soon following. The mortgage company then sent my money orders back stating until I had the gull amount they would not except any payments. Can they legaly do this?
2 Answers from Attorneys
Re: can a Mortgage company return a late payment?
Acceptance of your partial late payment could be deemed a waiver of your default and thereby delay foreclosure proceedings. It is within the discretion of the mortgage company to return the money and demand full payment.
Re: can a Mortgage company return a late payment?
First always read the mortgage but normally a mortgage company will not allow partial payments and will require payment in full. Often you can negotiate a workout plan to become current by talking, or hiring an attorney, to speak with the mortgage company
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