But you are still making your regular payment every month?
2007-10-19 11:31:55 · 9 answers · asked by Anonymous in Business & Finance ➔ Credit
seize property over $200.00? I don't think so.
2007-10-19 11:44:23 · update #1
Technically, you are paying late every month. If you have outstanding late fee, that comes out of your payment first which makes your payment short. You therefore incur yet another late fee.
Eventually, your regular payment will be eaten up by the accumulated late fees and they will be foreclosing on you.
2007-10-19 11:42:46 · answer #1 · answered by bdancer222 7 · 2⤊ 0⤋
Some will waive late fees if you aren't a habitual defaulter. They could foreclose on you in some states for missing one payment by one day. If you refuse to pay your late fees they will only hit you with more, just because they can. Let's say you never pay the late fees but you end up paying off your mortgage, they can then refuse to remove the lien over that then $200, no telling how much it would be by then. To get your house free and clear you would have to pay it.
And let's not forget the damage they can do to your credit. I don't think that's worth risking your credit over.
2007-10-19 12:00:33 · answer #2 · answered by Veritas et Aequitas () 7 · 0⤊ 0⤋
1. It goes on your credit report.
2. Eventually, either
a) they foreclose, or
b) you make the last month's payment and go to get the lien removed so that you can own the house outright, and then they tell you that you have to first pay all the back fees, with interest.
2007-10-19 11:53:16 · answer #3 · answered by StephenWeinstein 7 · 0⤊ 0⤋
The late quotes will stay till you do pay them. Technically they might foreclose or refuse to settle to your fee if it is not in finished. yet lots of the time the late quotes will merely proceed to characteristic up month after month, unfavorable your credit whilst you're over 30 days late. If no longer before, once you sell you will might desire to pay them as a manner to end the sale.
2016-12-29 18:46:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
I went all over the internet and discovered a bunch of spam. After all this webpage did it for us: loandirectory.info-
RE What happens if you don't pay mortgage late fees & they just keep accumulating?
But you are still making your regular payment every month?
2014-09-07 01:00:39 · answer #5 · answered by Benjamin 1 · 0⤊ 0⤋
Depends on the state you live....check your state laws....
They could possibly incurr more interest and report you to credit bureaus. They could seize property. There are a variety of things that could happen.
2007-10-19 11:37:43 · answer #6 · answered by mailjunkie123 3 · 0⤊ 0⤋
If it continues long enough, you will be behind in your payments and default on the loan.
It's not worth ruining your credit over.
2007-10-19 12:19:35 · answer #7 · answered by STEPHANE O 6 · 0⤊ 0⤋
Nothing will happen until you decide to sell the house
2007-10-19 11:35:17 · answer #8 · answered by Anonymous · 0⤊ 1⤋
bdancer is correct.
2007-10-19 11:44:30 · answer #9 · answered by ? 7 · 2⤊ 0⤋