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brandongerry · Joined: 04 Mar 2009 Posts: 1 1.54 Dollars($)

Does anyone know the default laws on a mobile home in the state of Maryland?...I spoke with 21 Mortgage Co. today. They said they could not let me keep being 45 days in default. My Feb. pay was due on the 15th. I will pay that payment on the 31st of this month. Can they really do anything?

jameshogg · Posted: Wed Mar 04, 2009 9:21 pm Post subject:

Hi brandongerry,

If you cannot pay the monthly payments on the due date, the lenders give a grace period of 15 days. If you cannot pay the dues within these 15 days, then it is considered as late. Generally, lenders do not report 30 days late payment to the credit bureau. But if you are late by 60-90 days, then the lender will report it to credit bureau. Moreover the lender will also have the right to foreclose the property.

Thanks

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