2006-09-28 07:06:33 · 7 answers · asked by bear2777 1 in Business & Finance ➔ Renting & Real Estate
A mortgage company can refuse and many do payments if not in full. By accepting a payment missing a late fee or a partial fee, leaves the legal door open to the customer saying they took what was availalbe.
2006-09-28 08:19:53 · answer #1 · answered by Midwest guy 4 · 0⤊ 0⤋
I don't think they can refuse any payment you send them whether it's late or not. You just need to make sure you pay the late fee, and I would do it as soon as possible. However, the best policy is to check your loan agreement with them and see what it says about payment and late payments and late fees, then make your payment according to that policy.
My wife was paying more than what our second mortgage company was asking for because we wanted to pay it off sooner, but they weren't set up for that so it screwed up the billing like you wouldn't believe. Eventually, it worked out in the end, but it was a real mess for a while.
On the other hand, our first mortgage has no problem handling us sending them extra money every month.
2006-09-28 07:23:19 · answer #2 · answered by JSalakar 5 · 0⤊ 0⤋
I don't understand why they would refuse money but my guess would be no because the first time they refuse to take money you could get a lawyer and end up not paying the rest of the mortgage but owning the house.
2006-09-28 07:16:39 · answer #3 · answered by Anonymous · 0⤊ 0⤋
yes ,they can refuse your payment.call them , explain your situation and try to pay your mortgage over the phone or true Internet so you will be not 30 days late.
2006-09-28 10:49:14 · answer #4 · answered by bianca 4 · 0⤊ 0⤋
Why would they refuse - they will take anything, but you will have to pay the late payment next payment.
2006-09-28 07:08:47 · answer #5 · answered by hirebookkeeper 6 · 0⤊ 0⤋
yes because if they take it then you can forfeit on paying later so they take all or nothing, i owed my landlord 250.00 bucks in late fees but she kept taking my rent so she never got paid and it was nothing she could do about it and she gave me a reference to move and all of my deposit back mortgage com. are smarter than landlords
2006-09-28 07:21:13 · answer #6 · answered by Mrs. Butler ♥2 B♥ 5 · 0⤊ 0⤋
I wouldn't think so. Have your lawyer give them a call, and they will probably sing a different tune.
2006-09-28 07:12:10 · answer #7 · answered by The Notorious Doctor Zoom Zoom 6 · 0⤊ 0⤋