I sent my Oct.payment in it came back Insufficient funds along with a letter saying we had not made a payment since 8-1-2012 . We have since then sent a check for 2 months of house payments. I have called and asked if they recived the check of 2 months they said they showed no record of it. The letter also states to bring our loan current we need to pay so much. We are working with our bank to show all the months we have paid.
Generally, when you fall behind in your mortgage payments, the mortgage company will require ALL the past due payments before they will accept any payment. This is to protect the bank from waiving certain provisions in the mortgage agreement (eg Time is of the Essence). If your payments were cashed, they may have been placed in a suspense account, rather than applied to your mortgage.
If you are making past due payments, it is a good idea to provide certified funds (cashier's check or money order). If you send a regular check, and the check is not cashed, you have no prove that a check was ever sent. Keep working with the bank to resolve this matter - don't let frustration and anger get in the way of saving your home.
I hope this helps!
Steven A. Leahy
Please note that the above is not intended as legal advice, it is for educational purposes only. No attorney-client relationship is created or is intended to be created hereby. You should contact a local attorney to discuss and to obtain legal advice.
Real Estate Attorney
To add to Mr. Leahy's answer, no matter how much confusion there may be, you have until 5 pm the day before a foreclosure sale to bring the loan balance current. But keep in mind you will also need to pay late fees, attorneys' fees and any other costs the lender has incurred in order to successfully prevent the lender from foreclosing.
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Without knowing if you were delinquent in the past, make sure you prepare a list of all payments you have made in the last 12 months. Get copies of the payments. Then ask the lender for a statement of all payments received within the same period. It is very important that you follow through on this in order to avoid additional fees and costs.
I will be happy to talk with you if you have any questions.
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