Shouldn't it be against the law? (foreclosure, mortgage, mortgage company, insurance)

[jeffalookin]

Shouldn't it be against the law to return a mortgage payment just so a mortgage company can foreclose.

[chet everett]

Once you get so delinquent with your payments that the borrower has begun the foreclosure process the mortgage documents and the laws of your state kick in.

Obviously, if through some magic you can come up with the whole balance of the mortgage and pay off the lender that is one way to stop foreclosure. For folks that have access to the full balance of the mortage, like through gifts from family / friends, or cashing in life insurance or retirment plans that is one way out.

Generally if you can give the lender all the missed payments and penalties that is another way to stop foreclosure.

Just getting back to the regularly schedule payments where "left off" won't do it. The legal theory is simple, by stopping your payments you broke you end of the contract. The contract spells out how to "fix" that problem. State laws also regulate what rights a borrower has.


You might also want to explore using bankruptcy couts to stop the foreclosure-- if your desire is to keep your house and get a judge to modify the terms of your mortage that often works well. Of course the bankruptcy will make it very difficult to borrow again until the bankruptcy is closed, but for many people it is the best option to keep their house...

[Silverfall]

I ditto what Chet said. If you missed payments or made a partial payment you broke the contract.

So are you saying that you haven't missed any payments and the bank won't take your payment?