Answers about Mortgage Payments and Late Payments
I am three monthly payments behind on my mortgage loan. I tried to make one payment, but the bank is demanding all three payments to bring the mortgage current. Is this legal?
Yes, the bank can refuse any partial payment that does not bring the loan current.
You are required to pay the monthly amount specified under the terms of your loan contract. For further explanation, review the loan documents provided to you at the loan closing.