mom939409 Posted March 22, 2012 Report Share Posted March 22, 2012 Hello! Just a quick question that maybe someone can help me with..we pay our mortgage every month but it's usually late (end of month instead of beginning) and right now with March we are late by 15 days, they always charge a late fee which I include and now they say we are default because we are 15 days late..my question is can they proceed with foreclosure even though I pay every month and include the late fee? Basically the letter says they have not received mortage payment of 1300 for the months of 03/01/2012 through 03/01/2012 which means our account is now in default and if they don't receive the payment they will start forclosure proceedings..I am wondering if this is a scare tactic or should I be worried? I plan to pay them on the 30th with the late fee..any advice on how to proceed with this would be most appreciative! Our mortgage company is Mortgage Investors and the loan is being serviced by GMAC..thank you again for your help! Link to comment Share on other sites More sharing options...
Torden Posted March 22, 2012 Report Share Posted March 22, 2012 Even though you are paying the late fee, you are still "late" and "past due". The terms likely have a clause to consider the loan in default after a certain number of lates. And the number itself may not even be in the terms ... they may claim the right to decide that for themselves. Technically, you violate the terms every time you are late.Can you catch up? Link to comment Share on other sites More sharing options...
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