I had mistakenly let my home owners insurance lapse for approximately one month. I currently have insurance and have had insurance for a few months now.
My Mortgage Co. is trying to say that I must pay them 10X the YEARLY insurance amount, (not monthly) before they will accept my monthly mortgage payment to them. It is now 2.5 months of mortgage payments due which I am trying to pay them but they will NOT accept my payments; instead, they want to charge me an additional $20,000.00 (on top of the 10X yearly insurance) for forclosure fees. I do NOT want to foreclose on my home, I want to pay them 3 months of mortgage payments which will bring me current along with one month of insurance which they paid for me plus a fee, (not 10X yearly insurance rate). Can they do this? Are they allowed to refuse my payments and force me into foreclosure? Can you give me any advice as to what I should do or who I can see to help me settle this matter.
My Mortgage Co. is trying to say that I must pay them 10X the YEARLY insurance amount, (not monthly) before they will accept my monthly mortgage payment to them. It is now 2.5 months of mortgage payments due which I am trying to pay them but they will NOT accept my payments; instead, they want to charge me an additional $20,000.00 (on top of the 10X yearly insurance) for forclosure fees. I do NOT want to foreclose on my home, I want to pay them 3 months of mortgage payments which will bring me current along with one month of insurance which they paid for me plus a fee, (not 10X yearly insurance rate). Can they do this? Are they allowed to refuse my payments and force me into foreclosure? Can you give me any advice as to what I should do or who I can see to help me settle this matter.
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