 | 
11-16-2007, 11:26 PM
| | Junior Member | | Join Date: Nov 2007
Posts: 2
| | | Can they do this?
What is the name of your state? New York
Hi Jim from NY & have a bit of a dilema.have the average mortgage that's bought & sold by lenders.My newest lender has threatened to foreclose on my house for being less then thirty days late on my mortgage.My Oct. payment is due on the 1st,with late penalties coming after the 15th.I'm wiring the payment tomorrow for Oct & their telling me if I don't have the Nov payment by the 30th I'm going under foreclosure.Is this possible & even legal.
Thanks in advance for any insight given her
Jim |
11-17-2007, 10:21 AM
| | Senior Member | | Join Date: Jun 2000 Location: Somnambulist University
Posts: 39,545
| | Quote:
Originally Posted by JimmyA  My Oct. payment is due on the 1st,with late penalties coming after the 15th.I'm wiring the payment tomorrow for Oct | Hmmm... even the most basic 'calendar unchallenged' person would know that Nov 16 (or 17) payment for an October debt is overdue. Quote: |
their telling me if I don't have the Nov payment by the 30th I'm going under foreclosure.Is this possible & even legal.
| Of course it is.
Better get your act together and start paying your bills on time.
__________________
There are at least 17 lawsuits (!!) pending in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution).
Why has he spent over $1.35M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport!
|
11-17-2007, 05:28 PM
| | Junior Member | | Join Date: Nov 2007
Posts: 2
| | | Thanks for your compassionate insight.
So your telling me one can be behind one payment & they can take your house.I guess then I should venture into the foreclosure business,cause many people are late in their bills.Might as well make money off other peoples plight. |
11-17-2007, 10:06 PM
| | Senior Member | | Join Date: Sep 2004 Location: Pittsburgh (North Hills)
Posts: 1,572
| | Quote:
Originally Posted by JimmyA Thanks for your compassionate insight.
So your telling me one can be behind one payment & they can take your house.I guess then I should venture into the foreclosure business,cause many people are late in their bills.Might as well make money off other peoples plight. | A bank lent you a lot of money so you could buy a house which provides you and your family with shelter and you agreed to pay the bank back on a monthly basis per the terms of your contract/mortgage. If you don't carry out your end of the bargain, then yes, the bank will take the home. However, the bank doesn't really want your home, they just want the money that your suppose to pay them on time.
__________________
If you're lucky enough to be Irish, you're lucky enough!
|
11-18-2007, 08:59 AM
| | Senior Member | | Join Date: Oct 2007
Posts: 2,548
| | Quote:
Originally Posted by JimmyA Thanks for your compassionate insight.
So your telling me one can be behind one payment & they can take your house.I guess then I should venture into the foreclosure business,cause many people are late in their bills.Might as well make money off other peoples plight. | actually if your payment is due on the first and past due on the 15th and you wrote this one the sixteenths of november stating you havent paid october or november as of that date, you are behind two months. they are just wanting you to get caught up before december hits and you are three months behind |
11-18-2007, 01:02 PM
| | Senior Member | | Join Date: Jun 2000 Location: Somnambulist University
Posts: 39,545
| | Quote:
Originally Posted by VeronicaLodge actually if your payment is due on the first and past due on the 15th | Not correct.
The payment is DUE on or before the first. There is a grace period (but still overdue) until the 15th, when late penalties occur.
__________________
There are at least 17 lawsuits (!!) pending in various courts, including the US Supreme Court, asking if Obama is a natural born citizen (as req'd by Art II, Sec 1 of the US Constitution).
Why has he spent over $1.35M in legal fees to block disclosure... rather than spend $12 for a VALID birth cert to settle the matter? The 'certificate' he has presented doesn't qualify to get a drivers license, wouldn't allow a child to qualify for Little League, or for a real citizen to get a US passport!
|
11-18-2007, 01:02 PM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | Quote:
Originally Posted by JimmyA What is the name of your state? New York
Hi Jim from NY & have a bit of a dilema.have the average mortgage that's bought & sold by lenders.My newest lender has threatened to foreclose on my house for being less then thirty days late on my mortgage.My Oct. payment is due on the 1st,with late penalties coming after the 15th.I'm wiring the payment tomorrow for Oct & their telling me if I don't have the Nov payment by the 30th I'm going under foreclosure.Is this possible & even legal.
Thanks in advance for any insight given her
Jim | **A: yes, it is possible and legal. Read your mortgage docs. |
11-20-2007, 01:37 PM
| | Junior Member | | Join Date: Sep 2007
Posts: 4
| | | Be glad that you don't live in Jersey. One late/missed payment and they can/do legally forclose on your home! Happened to someone I know. |
11-20-2007, 01:44 PM
| | Senior Member | | Join Date: Oct 2007
Posts: 2,548
| | Quote:
Originally Posted by JETX Not correct.
The payment is DUE on or before the first. There is a grace period (but still overdue) until the 15th, when late penalties occur. | i was just going on what the OP posted. |
11-21-2007, 11:58 AM
| | Senior Member | | Join Date: May 2000 Location: Catatonic State
Posts: 75,781
| | Quote:
Originally Posted by Zipper775 Was your original mortgage just purchased by another mortgage company within the last 60 days? | **A: and what relevancy would that information have? | |
Currently Active Users Viewing This Thread: 1 (0 members and 1 guests) | | | | Thread Tools | | | | Display Modes | Rate This Thread |  Linear Mode | | 
Posting Rules
| You may not post new threads You may not post replies You may not post attachments You may not edit your posts
HTML code is Off | | | |
All times are GMT -5. The time now is 12:11 PM.
