Legal Question in Credit and Debt Law in Virginia
Collections
We are currently in a payment arrangement with our mortgage company, They have been helpfull.
Our regular monthly payment including escrow is $1640. They want us to pay $2377 per month to catch the delinquent amount up. If I just pay $2000 per month until the delinquent is caught up, can the mortgage holder begin forclosure proceedings anyways?
Asked on 4/14/07, 11:51 am
1 Answer from Attorneys
Robert Strupp
Robert J. Strupp,Attorney at Law, PLC
Re: Collections
As long as you remain behind, without an agreement from the lender, they COULD initiate foreclosure proceedings. Perhaps there is a way to gradually increase from the $2000 you want to pay to the $2377 they are seeking? There may be some other ways to address the past due balance that an attorney might help with you with.
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Answered on 4/14/07, 12:05 pm
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