mortgage question that was asked at lunch, today

a question about mortgages, foreclosures, and the like was being discussed at lunch.

something was said that got me thinking... i have no idea how these things work, so i thought i'd ask LIF

if you can't pay your mortgage (for whatever reason), but you pay part of it... how long before the lender can do something legally against you?

Re: mortgage question that was asked at lunch, today

Generally, lender's won't accept partial payments because it can delay foreclosure arrangements if you don't make good. They put the money in an escrow account and send a letter that you are delinquent. Some lender's will send the check back, depending on their internal policies. If you are going to be late on a payment, you are better off contacting the lender and discussing payment options, including forebearances or permanent mods but most of those require that you are delinquent for a period of time.