WHen does the Mortgage Company stop accepting

[Hillbilly]

Mortgage companies will always accept paymnets. What they don't accept, is less the current amount due. So, if you missed December's payment and now it's January, you could not make December's payment without both December's payment and January's payment.

I have to comment that Mortgage companies DO NOT 'always' accept payments.
A few years ago when a relative of mine got several months behind on his house payments, he contacted me for assistance.
At that time I had accumulated (what seemed) a quite large amount of savings, and being willing to extend whatever amount was necessary for him to bring his mortgage up to date, I provided him with a blank check to fill in whatever the exact amount was that his lender would require to so do.
Upon contacting his lender he was informed that they were proceeding with foreclosure and no further mortgage payments would be accepted. They would accept nothing less than a 100% payoff.
He returned my blank check, and ultimately lost his home of 15 years to foreclosure.
Sad story is, it has been downhill from there, as this family after some 6 years, has never yet been able to 'get back on their feet'.
The husband although working, now lives in a pickup camper, or sometimes in his brothers basement. He and his wife although on good terms, had to separate so that she could qualify for public assistance to support their two school age children. I expect given current economic conditions, that this new 'lifestyle' will continue for them at least until their children graduate.
And one can't help but wonder, just what kind of future it is that is awaiting them?

[justbroke]

I have to comment that Mortgage companies DO NOT 'always' accept payments.

I could just say that... at the time your relatives mortgage payment got so late, the payment was "payment in full", which they would have accepted. But, I won't... I'd rather explain.

Did your relative seek legal counsel on this? Almost all States have a "right to cure" on a mortgage. This is a right under State non-bankruptcy law (and is statutory). My words were a little strong with accept payments.

In these cases where you can cure the default, you should get legal counsel. As I have written, there are statutory means to cure a default prior to foreclosure.

In your relatives case, he plain waited to long and the note was accelerated. That is a different scenario than the one presented. I say this just to differentiate your relatives case, from someone who is "only" a month or two behind, they haven't received or did receive a Notice of Deficiency, the "cure period" hasn't expired, and the lender has not accelerated the Note and proceeded with foreclosure by filing such a complaint or lis pendens with the Circuit/District court.