0
call the mortgage holder and make payment arrangements
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
If you have a foreclosure on your home can you make a payment to stop it?
This really depends on many factors -- how far into the foreclosure process are you...1, 2 or 10 months late on the mortgage? If you have only missed 2 payments, you can most definitely avoid foreclosure when you make a payment for the 2 late payments , plus any late fees, etc. However, if you are 3 months late and the bank has already issued a notice of trustee sale to sell your home on a particular date and you can only make a payment for one month, then most likely than not, your home will be sold at the auction. In this scenario, you may have to make a payment for the past 3 months, plus any late and attorney feesm in order to get current on your loan. However, every bank is different and therefore your bank may have a program available to help you catch up on the late payments. Call your bank and ask them to help you keep your home by offering you a payment plan. Good luck.
How much does an extra payment a year knock off a 30 year mortgage?
If I send in an extra payment a year or 2 extra payments a year how much time would that knock off my 30 year mortgage?
Leo is purchasing a home for 209 000 his mortgage company requires that he put 20 percent down what will the mortgage amount be on his loan?
209,000 * .2 = 41,800 down payment. 209,000 - 41,800 = 167,200 principal final mortgage payment will vary depending upon escrow, taxes, etc.
Can they consider you late during the grace period Country Wide is calling us before the grace period is up. We've never been late I mean after the grace period?
The grace period is the time your mortgage company allows before they charge a late payment fee. It has nothing to do with your due date; in other words, it is not a substitute due date. Your due date is the date you agreed to make your payment when you signed the mortgage contract, usually the first of the month, and you are late the next day. That is why your mortgage company calls you. But there is a way, in fact a few different ways, to stop the calls. 1. If you know you cannot have your payment made by your due date, call your mortgage company yourself. When you call, ask to speak to the collections department. The reason you should speak to collections instead of customer service is that the collections department can put a hold, typically up to 7 days, on the phone calls. Just tell them when you plan to make your payment, the amount you intend to pay, and the method of payment you plan to use. 2. Call the collections department and ask if you can do a post-dated check-by-phone. There is usually a charge for doing this, but it will stop the calls until the next month. 3. Set up an automatic draft from your checking account. It typically takes two bill cycles for the automatic draft to take effect, so you will need to make another payment in between the time. 4. On a new loan, the mortgage company's computer will typically call a new customer every month until a payment pattern is established. If you make your payments about the same day every month, the computer will recognize this after about 6 to 8 months, and it will stop calling, unless that payment pattern is broken. Again, if you know you're not going to make your payment on the date you usually make it, be proactive and let your mortgage company know when you plan to make the payment. Again, the grace period has nothing to do with your due date, it's just the time they allow before they charge you a late fee.
What are points on a mortgage?
Mortgage Points When you close on a mortgage, you are given the option to buy "points". These points are a fee paid to the lender that lower the interest rate on the mortgage. One (1) point = 1% of the mortgage amount, and will typically lower your interest rate by 0.125% on a 30 year loan. How do I know if I should buy Points? Whether or not you buy points is a function of how long you will keep your mortgage. Generally it will make more sense to buy points if you plan to hold onto your mortgage for a long time, and you can calculate the breaken number of years for buying points to make economic sense. About.com offers the following advice on determining this breakeven point: * "1. Calculate the amount of your monthly payment at the interest rate you will be charged if you do not pay points. * "2. Calculate the amount of your monthly payment at the lower rate if you do pay points. * "3. Deduct the lower payment from the higher payment to find the amount saved each month. * "4. Divide the amount charged for points at closing by the monthly amount saved. The result is the number of months you must keep the loan to break-even on paying points." About.com continues with an example, showing the breakeven mortgage hold period for buying 1 point on a $100,000 30-year 7.5% loan is 117 months. If you hold the mortgage less than 117 months, it won't make economic sense to have purchased the points.
If you have a foreclosure on your home can you make a payment to stop it?
This really depends on many factors -- how far into the foreclosure process are you...1, 2 or 10 months late on the mortgage? If you have only missed 2 payments, you can most definitely avoid foreclosure when you make a payment for the 2 late payments , plus any late fees, etc. However, if you are 3 months late and the bank has already issued a notice of trustee sale to sell your home on a particular date and you can only make a payment for one month, then most likely than not, your home will be sold at the auction. In this scenario, you may have to make a payment for the past 3 months, plus any late and attorney feesm in order to get current on your loan. However, every bank is different and therefore your bank may have a program available to help you catch up on the late payments. Call your bank and ask them to help you keep your home by offering you a payment plan. Good luck.
What are the causes of foreclosure?
non-payment of mortgage payments exceeding 2 to 3 months. If the mortgage company does not receive timely payments, they can decide to foreclose. Once they have made that decision it is very hard to correct. If you cannot make your payment call the mortgage company. Communication can go a long way to prevent foreclosure.
STOP FORECLOSURE!?
1. STOP FORECLOSURE (in ANY State)?: 2. Reduce Mortgage payment up to 50% monthly? 3. 2 to 24 Months Mortgage payments late? 4. Your Appraisal is LOWER now, than when you purchased property? 5. Your Mortgage is TOO HIGH? 6. Liens need to be removed? NOTE: BAD Credit or NO income is NOT a problem! CLICK HERE: http://www.freedistress.com/affiliates/StopForeclosure Call: 973-847-2270; 862-224-0292; 862-224-9950
How much does an extra payment a year knock off a 30 year mortgage?
If I send in an extra payment a year or 2 extra payments a year how much time would that knock off my 30 year mortgage?
How late can a vehicle payment be in Virginia before repossession?
I am a repossession agent in Virginia it takes 2-3 months of not paying before the repossession status occurs.AnswerI am a repossession agent in Virginia it takes 1 missed payment then repossession status occurs.
Leo is purchasing a home for 209 000 his mortgage company requires that he put 20 percent down what will the mortgage amount be on his loan?
209,000 * .2 = 41,800 down payment. 209,000 - 41,800 = 167,200 principal final mortgage payment will vary depending upon escrow, taxes, etc.
What is another way to say 2 months behind?
two months late
Can they consider you late during the grace period Country Wide is calling us before the grace period is up. We've never been late I mean after the grace period?
The grace period is the time your mortgage company allows before they charge a late payment fee. It has nothing to do with your due date; in other words, it is not a substitute due date. Your due date is the date you agreed to make your payment when you signed the mortgage contract, usually the first of the month, and you are late the next day. That is why your mortgage company calls you. But there is a way, in fact a few different ways, to stop the calls. 1. If you know you cannot have your payment made by your due date, call your mortgage company yourself. When you call, ask to speak to the collections department. The reason you should speak to collections instead of customer service is that the collections department can put a hold, typically up to 7 days, on the phone calls. Just tell them when you plan to make your payment, the amount you intend to pay, and the method of payment you plan to use. 2. Call the collections department and ask if you can do a post-dated check-by-phone. There is usually a charge for doing this, but it will stop the calls until the next month. 3. Set up an automatic draft from your checking account. It typically takes two bill cycles for the automatic draft to take effect, so you will need to make another payment in between the time. 4. On a new loan, the mortgage company's computer will typically call a new customer every month until a payment pattern is established. If you make your payments about the same day every month, the computer will recognize this after about 6 to 8 months, and it will stop calling, unless that payment pattern is broken. Again, if you know you're not going to make your payment on the date you usually make it, be proactive and let your mortgage company know when you plan to make the payment. Again, the grace period has nothing to do with your due date, it's just the time they allow before they charge you a late fee.
Case 27-2 rock creek golf club solution?
i only have the asnwer for question number 1:here it is:1.)The length of the mortgage is 5 years. The mortgage amount is $89600. The interest rate on this mortgage is 8%. The monthly payment on this mortgage is $1816.76. The yearly payments on this mortgage total $21801.12.Free Amortization Schedule and Monthly Payment BreakdownYearPrincipal PartInterest PartTotal PrincipalTotal InterestBalance115181.776619.3515181.836619.3574418.17216441.865359.2631623.7511978.6157976.25317806.533994.5949430.3415973.2040169.66419284.472516.6568714.8718489.8520885.13520885.07916.0589600.0019405.900.00
How do you write a letter to reducing the late payment charges?
sir i am a student of 2 year since when the date of payment i am in fever so i am very sorry for this act so kindly accept my payment without late charges
Besides pregnancy what can cause you to be 2 months late?
Stress
Why is your period is 2 months late?
Normally it means you are pregnant
