The bank refuses to take payments on my mortgage. Can it do that? Why?
Lenders can refuse to accept payments on a mortgage if the mortgage is already in default under its contractual terms and the lender has reserved the right to do so. A partial payment may trigger a default. However, the institution will usually request a single payment to bring the loan current or set up a formal plan to cure the default.
Contact: Consumer Representative
Phone: 1 800 334 3360
or Fax: 1 212 618 6570