Im wondering if my mortgage company can refuse my payment.

Question

We have fallen behind on our Mortgage and they are not willing to send us the right letter to get money out of our 401 K savings to catch the house up. They wont take a payment unless I pay what I am past due on and then post date a check for this month and it has to be post dated by the end of this month. So my question is if I sent them a check for a months worth of mortgage payment can they sent it back and refuse it or is that illigal. I live in Michigan and am unable to find any information on it right now. The bank is not working with us and the past two days we have tried to talk to them it goes like this they yell, and tell us to learn how to pay bills basically and today she hung up on my husband. Very unprofessional. Any help would be great. thanks

Answer 1

A RE atty?  Is that a typo?  If they had $2500 numbnvts they would not be facing this problem!

Answer 2

Yes, this is legal and typical.  If they have started foreclosure proceedings they can not accept a partial payment, as that would end the proceedings and they have to start all over again.    They are only going to stop the foreclosure if you no longer owe them any money.   You need to pay the the entire arrears at once.    You have already proven that you do not honor your word when it comes to making payments on something, making it hard for them to work with you.  

Answer 3

ORdinarily, I suggest doing the calling thing but not this time.

I suggest finding a RE atty in your area and invest $2,500 with him or

her to get back on an even keel. If the lender goofs up with your atty

you will get benefits and even more.