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If you are thirty days late on your mortgage can they take your house away?
Wiki User
∙ 8y ago
The answer to this question would depend upon the your mortgage's acceleration clause, what the note states and the mortgage company's desire to proceed with foreclosure after only a 30 day late payment.
Generally, action like a foreclosure is only taken when there is no other means for a mortgage company to recover the money they have lent. While it would be unusual for this to happen, whether or not it WILL happen depends, once again, on your mortage and note.
Wiki User
∙ 8y ago
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The house you were renting is going to a forclosure because the owner did not pay the mo rtgage company?
a mortgage is a secured loan - that means if the owner cannot or will not make his mortgage payments, the mortgage company can seize the house. if the mortgage company seizes the house, any leases are voided meaning tenants are not protected and are pretty much at the mortgage company's mercy. generally speaking, they still have to be provided adequate notice (30 days or 60 days is the usual amount depending on jurisdiction).
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Don't hold me to this, but I don't think they can just take it back for being thirty days late. I think they would have to foreclose on your house first. Or get a judgment lien against your house first.
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