Posted on: 21st May, 2009 06:50 am
My mortgage company raised my monthly payment because they based my payment on last years tax figures, however I have since applied for the homestead exemption which will significantly reduce my tax figure. I mailed my regular mortgage payment (the figure without the estimated escrow shortage) and they have not applied the amount because they say that it is short $26.00. Why do they not apply my payment to principal and interest and leave the shortage in escrow instead of not applying any payment? Is this legal?
A lot of lenders will not accept a payment even a couple of dollars short. Your best bet would be to send the full payment until you can come to an agreement with your lender and have that in writing. I hope this helps...
Definately lender will not except short payment. so make sure for full payment
"Definately lender will not except short payment"
I think sunil87020 wanted to say that
Definitely lender will not accept the short payment.
:arrow: :lol: :lol:
I think sunil87020 wanted to say that
Definitely lender will not accept the short payment.
:arrow: :lol: :lol:
yes...pay what they ask for, because you risk being in default if you neglect to do so. you can always argue with them later.
