Question: The bank I have my mortgage with is saying that I have been behind on my mortgage for several months. I acknowledge that I am behind on my mortgage but by much fewer months than my bank suggests. When I tried to make a payment, I was told that I had 48 hours to pay the outstanding balance. I got the money together, but then the bank representative told me that they would not accept my payment because my case had gone to foreclosure and I need to pay the foreclosure attorney's fees now as well. On the other hand, my account manager told me to send the payment in, so I did and now he says that my case will be taken out of foreclosure and the bank will inform them if I owe them anything with regards to the foreclosure attorney's fees. Who do I believe and what will happen next?
Response: Generally, if your loan was referred to a foreclosure attorney, the bank cannot accept the money anymore and it has to go through their attorney's office to reinstate it so all the fees could be properly evaluated. In your case, you are not behind by much and it seems that the bank referred your case into foreclosure at its first chance. Generally, what it means is that the attorneys for the bank have to draft a summons and complaint and serve you with the papers. So, if their attorneys just received a referral but they haven't done anything that would have incurred fees yet, then it is very likely that the amount of arrears is still the same as you were told. You can also call the attorneys for the bank to double check but based on the short amount of time in default, the scenario you described could make sense.
In the legal blog, Attorney Svetlana Kaplun addresses typical questions our firm has received from our clients, or come across from homeowners related to foreclosure, foreclosure defense, loan modification and bankruptcy topics.
The information contained in the legal blog of Attorney Svetlana Kaplun is for informational purposes only, and should not be construed as a legal advice on any subject matter. Please read our full disclaimer or contact the Law Office of Svetlana Kaplun, P.C. by telephone at 718-444-1115 for more information.
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