4 responses to “Are mortgage companys allowed to refuse payment if your payment is late?”

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  panjak September 1st, 2009 at 20:54

  Craig

  yes they are– but they usually wont unless youve consistently been late

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  satarnag September 2nd, 2009 at 03:10

  Alvin

  They don’t want you to always be a month behind. So they’re saying that you need to pay this late month’s payment with next month’s payment. Just pay them and keep it up to date.

  Also, almost always your loan gets sold to another company and I’m sure if she looks into her copy of the documents, she will see a disclosure stating this.

  Regards

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  alphme September 3rd, 2009 at 13:22

  Kelly

  All companies have different policies, but if she makes her payment they will accept it. Tell her to pay by phone or thru the web. Once your account goes 60 days past due, they will accept nothing less than the amount to get it current. Some smaller companies even do that at 30 days past due. At ten days past due with the next payment not even due yet they have no legal leg to stand on.They CANNOT demand payment for a month that is not due yet.

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  jon g September 5th, 2009 at 05:38

  Jamie

  YES THEY CAN. Read what you sign when you got the mortgage. Also note that if you miss one payment most bank/funders can put you in foreclosure right away. Read what you signed. I do foreclosure bail out and see this all the time