Legal Question in Real Estate Law in Ohio
I got three months behind on my mortgage. I mailed in a check for the full delinquent amount. My Lender...USDA rejected the payment. now my house is nearing foreclosure several months later and now they are saying the forclosue can be stopped if I now pay the several thousand dollars I am now behind. problem is I do not have full amount and they rejected partial payment or to work with me. have paid for 23 years on a 30 year fixed mortgage. is this legal for them to reject my payment then wait till my house is nearing foreclosure to now say they will accept payment in full when they know I don't have it? By rejecting my first check shouldn't this void our contract? thank you
1 Answer from Attorneys
You need to consult with an attorney in your area who deals with foreclosure defense litigation. Mortgage lenders are notoriously difficult to deal with and it helps to have an attorney who can negotiate with the lender on your behalf. An attorney could help you negotiate a settlement with the lender and/or a mortgage loan modification that would allow you to pay back your delinquency over time.
As to your question about refused payment, it would be impossible for me to answer that question without looking at your mortgage and promissory note, but generally speaking, upon a default, the lender has the ability to accelerate the balance due (7 years of payments). Therefore, while you may believe you were tendering payment for the delinquency (3 mos), your mortgage may have required payment of the entire remaining balance at that time.
Please note that I am only offering general advice about the need to get an attorney, and nothing I have said should be interpreted as legal advice and no attorney/client relationship has been (or will be) formed as the result of this answer.
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