Legal Question in Banking Law in Indiana
Can a back refuse payment on a loan?
Quick question, Can a bank refuse payment on a mortgage loan? My sis is behind by three payments, not continuous but has missed a payment here and there, she is paying more than her payment (her payment is 550 she's paying 650 and can make two payments in a month. She recieved a letter stating she had to come up with the full amount past due within 30 days and with the letter the last payment she made of 650 was in it. I didnt think they could refuse payment, thought they would just subtract it from the total due
Asked on 1/05/07, 4:11 am
1 Answer from Attorneys
C. David DuMond
Law Offices of David DuMond
Re: Can a back refuse payment on a loan?
Yes,the bank can refuse to accept a payment if the borrower is in default.
Answered on 1/05/07, 9:10 am
Related Questions & Answers
-
Post-Dated checks Can you advise me if Post-Dated checks are illegal in Indiana ? Asked 9/13/06, 1:49 pm in United States Indiana Banking Law
-
Scams??? I recieved a check for secret shopping, I am to cash or deposit the money... Asked 8/24/06, 11:41 am in United States Indiana Banking Law
-
California resident default on Indiana loan What jurisdiction does an Indiana Bank... Asked 11/13/05, 2:46 am in United States Indiana Banking Law
-
Is our mortgage legal ? Hi Folks, Our builder it turns out, is a crook. Great custom... Asked 10/07/05, 9:40 pm in United States Indiana Banking Law
-
Blackmail through false discrepancy claim A friend of mine just got rid of a real... Asked 6/17/05, 9:28 pm in United States Indiana Banking Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
