correction in question

[jenna707]

What is the name of your state? md

Correction

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I rec'd a response that didn't seem to answer my question. I'm trying to find out if it is legal for the mortgage company to return full payments when the following month is not legally late?


Quote:
Originally Posted by jenna707
What is the name of your state? MD

Is it legal for a mortgage company to return a payment when the following month is not legally late. I owed for June which was sent in the beginning of July. July was not officially late until the 15th. I sent the payment certified return receipt. They refused the payment and sent it back. From what I was previously told, this released the consumer from the debtor. Is it legal for them to send payments back.What is the name of your state?

 

[pojo2]

Is it legal for a mortgage company to return a payment when the following month is not legally late.

YES beyond any shadow of a doubt!

I owed for June which was sent in the beginning of July. July was not officially late until the 15th.

IF your payment is DUEon the 1st of the month it is late on the second of the month you have a grace period of the 15th before a penalty is assessed. That does NOT extend your due date of the 1st.

From what I was previously told, this released the consumer from the debtor.

Dream on!

 

[HUD-1]

I agree. On July 1, you were in default (for June's payment). I beleive that they can return anything after that point if it is not the full amount for June,July, plus late fees...