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Barrister, Lawyer
Category: Real Estate Law
Satisfied Customers: 37003
Experience:  16 years real estate, Realtor. Landlord 26 years
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Does a partial payment before the forclosure date of sale

Customer Question

Does a partial payment before the forclosure date of sale constitute a the forclosure be re set for a later date
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Barrister replied 1 year ago.

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If the lender accepts the payment, then that could serve as a means of defeating a foreclosure action because the borrower can then claim that the amount the lender is claiming that is due is not correct on the documentation so they are proceeding under incorrect documentation.


That is why most lenders refuse to accept any further payments once they decide to foreclose and return them to the borrower if they send them in..





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