Can a bank refuse my house payment?

[Lajazz947]

My 341 is on June 2. Hopefully the last one after many continmuances.

I am 3 months behind on the 1st payments although I have most of the money saved. I had to pay legal fees. My 2nd is current.

The reason? if I got thrown into a 13 I could put the arrears into the plan, if a 7 then I would just catch up and the bank said that once I got a no asset report they would work with me to modify the loan.

Last Friday I got a letter from the bank saying that I need to catch up and that they would refer the matter to their attorneys if I did not.

I had sent a payment a few days ago.

I called the bank and the guy said not to worry, that there were many others worse off than me and he told me off the record to not make another payment since my 341 was so close.

Now its been a week since I mailed the check and it has not cleared.

Any chance that they would refuse my payment at this point?

Thanks, I have been put through the ringer.

[HHM]

It depends. Usually you have a right to cure up to the point they accelerate the loan. However, to fully cure, you need to pay the TOTAL due, including late fees etc, or get agreement from the bank (preferably in writing) to waive the fees.

[Flowers]

Yes they can refuse. I kept trying to send SOMETHING to show my intent to stay in the home. They flat out told me they'd return the money promptly and not to waste my time.

[AngelinaCatHub]

Hey 'Jazz' you already know these things. You are one of the sharpest here. But, I would go by what the bank guy said as they really don't want to maintain an empty house. From what I hear, the flood of these in maintenance alone, is causing bank financial distress. Hang on to the doe but keep it handy to pay in full as HHM said. 'Hub

[Lajazz947]

Hey 'Jazz' you already know these things. You are one of the sharpest here. But, I would go by what the bank guy said as they really don't want to maintain an empty house. From what I hear, the flood of these in maintenance alone, is causing bank financial distress. Hang on to the doe but keep it handy to pay in full as HHM said. 'Hub

Well thanks for the compliment. I must admit that most of the knowledge that I have acquired is through this forum and my own compulsive learning tick ( and fear of the BK process ). I found it incredibly hard to beleive that the bank would refuse a payment of any kind.

I figured that the bank guy was on track and frankly it makes sense not to pay next month.

They have been telling me for months that they were modify my loan once the BK is over. Lets see what happens.

5 business days to the next 341.

[Lajazz947]

How weird..................The bank just cashed my check 2 1/2 weeks after I sent it.

341 hearing in 3 business days and no news from the TT as of yet.

My attorney says that no news is good news.

[tampagirl23]

I have Chase as my mortgage holder and have noticed it is taking them FOREVER to post my payments and cash my check. It is making me nervous because I am trying to mail by the due date, but yet they aren't posting it until much later.