How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask socrateaser Your Own Question
socrateaser
socrateaser, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 37971
Experience:  Retired (mostly)
10097515
Type Your Consumer Protection Law Question Here...
socrateaser is online now
A new question is answered every 9 seconds

If the loan company sent apayment back and said they will not

Customer Question

if the loan company sent apayment back and said they will not accept any morpayment and casha pamenmt the very next week can they tell you that ther going to forclous on your loan
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  socrateaser replied 1 year ago.
Hello, If the lender has accepted payments sufficient to bring the loan current, then no foreclosure is possible, because there is no default in the loan agreement. The borrower's payment, even if late, operates to "cure the default." However, the borrower may be liable for late fees, or additional interest, which if not paid could create a separate default. And, that separate default could be grounds to foreclose. The only way to absolutely avoid foreclosure is to make certain that all deficiencies are brought current. I hope I've answered your question. Please let me know if you require further clarification. And, please provide a positive feedback rating for my answer -- otherwise, I receive nothing for my efforts in your behalf.Thanks again for using justanswer.com!