Demanding Mortgage In Full?

The bank is playing dirty illegal. They want the balance of my mortgage in full or they are going to kick me out. They cant do this. I've been jerking them around for a while but not fair.

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  • 3 weeks ago

    awww, waaaaaah

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  • 3 weeks ago

    Read your mortgage contract.  The demand is legal because it is mentioned in the contract as a consequence of your failure to repay as promised.  Perhaps what you don't understand is that if you were to refinance the loan, you could pay off the original loan in full (assuming you can find another lender to lend to you).

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  • 3 weeks ago

    Thats a half step before foreclosure...

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  • 3 weeks ago

    Six months ago you posted; "What are your options when your house is being auctioned off tomorrow,..."  Sounds like you have already lost the home.

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  • 3 weeks ago

    In the USA there are numerous reasons why a mortgage lender can "call" your loan by demanding payment in full. They know you can't pay but they're going to force you into foreclosure.

    These reasons usually include serious violations of the loan terms, far more serious than just missing a payment or two. If you committed fraud in the original application, if you're not occupying the home with an owner-occupied mortgage, if you're not carrying the required insurance - all of these can be reasons for calling the loan.

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  • 3 weeks ago

    Seems like you brought this on yourself.

    So you now need to sell the property and pay back the mortgage.

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  • 3 weeks ago

    Read your mortgage documents. If you have fallen behind on payments, they may certainly demand the full amount due and payable. Nearly all residential mortgages contain an acceleration clause, and invoking it is usually a lender's first step in foreclosure.

    Other things can trigger the acceleration clause. Failing to pay property taxes, failing to pay or canceling homeowner's insurance, failing to make payments on any secondary financing (home equity loans/lines of credit, 2nd mortgages), having liens placed against the property, or being caught using the property as a rental when the mortgage forbids it.  Most accelerations, however, are from not making the regular payments.

    Your own words that you are 'jerking them around' is clear evidence that their actions are justified. We don't know what you did (or didn't) do, but you know what that is. And it's totally fair. It's all in your mortgage documents, what can happen when you don't keep up your end of the deal.

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  • 3 weeks ago

    YES, they can kick you out.  They can foreclose and evict you and there isn't anything you can do about it.  I suspect that you failed to follow the contract you signed or, perhaps, you thought you could take over the mortgage from someone else and you can't.  So the mortgage was called due.  For whatever reason, since they have called it due, pay it.  If you can't afford to do that, too bad.  You said you have "been jerking them around for a while" so now, you are going to have to pay the consequences of your actions.  If you haven't got the money, start packing.

    Source(s): Certified Paralegal, with 25+ years' experience.
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  • 3 weeks ago

    maybe you can get a loan to help you pay it off

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  • DON W
    Lv 7
    3 weeks ago

    Read your mortgage loan contract.  I suspect you will find language allowing them to foreclose and demand payment in full if you "jerk them around".  Banks have buildings full of lawyers--they may do "dirty" things, but I doubt you will find them doing "illegal" things.

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