Legal Question in Business Law in Michigan
if i write "apply full amount to principle" on a check for my house payment, do they have to do that?
Asked on 8/25/10, 7:04 am
1 Answer from Attorneys
Shelly Schellenberg MI & FL
private practice
No, your mortgage requires you to pay interest first. Then, any penalties or escrow shortages are paid. Any additional amount should be applied to the principle.
Answered on 8/30/10, 12:24 pm
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