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my mortgage company returned my partial payment

I was out on disability in October,my younger brother passed away in November. (had to pay for funeral and casket)I was unable to keep my nov. and dec payment arrangement for my forbearance. I sent $1000 good faith partial payment, the bank returned it. I received a demand for the oct & nov payments after the 7 day deadline they gave me. I can not get through on the ivr as their volume is too high so the their system hangs up on me. I sent documentation of the obituary, the receipts which shows that I paid more on the funeral than what was owed for the oct and nov payment. While the bank returned my partial payment to me they did not return the documentation I sent. If I am able to come up with all past due can I save my house?

adonis's picture
adonis | Joined: October 22, 2005 05:04 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

Welcome finedv,

If you're able to come up with all the past due payments, then you would be able to save your property. However, you should get in touch with your lender and inform them that you want to pay off the past due amount. They would let you know how and when you should pay it off.

Like | Dislike | Share | Posted: Sun, 01/10/2010 - 21:17

gmakerley's picture
gmakerley | Joined: November 9, 2007 07:36 am | Posts: 0 | Location: New Jersey | 00 Dollars($)

lenders will not accept partial payments on a mortgage loan - that's generally the industry standard. a local, community-oriented institution might, but that's truly outside the box.

yes, indeed, paying off the arrearage will stave off any sort of proceedings against you, such as a foreclosure. keep trying to contact them and let them know your intentions. i'm amazed that they've not tried to call you.

Like | Dislike | Share | Posted: Sun, 01/10/2010 - 21:39

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