The bank returned the payments

By
Real Estate Broker/Owner with Regal Realty of the Treasure Coast LLC

The bank returned the payments

Many homeowners have been faced with this issue of having their payments returned. 

The reason for this is that the payment sent is a partial payments and bank make it their policy not to accept partial payments. 

Another reason banks will return your payments is because you may be several payments behind and you sent one or two payments but not all payments that were and are due.

So what does it mean to when the bank returns the payment , they are preparing to commence foreclosure proceedings. 

It is this point I strongly advise you to seek help. 

Your options are:-

1.   Bring all the payments up to date

2.   Call the bank to discuss a possible modification

3.   Speak to your attorney and accountant

4.   Employ a Realtor to list the house for a short sale.  

Posted by

 

 

I am  certified from the National Association of Realtors for being a Short Sale and Foreclosure Expert. 

If your are looking to sell or purchase a home in South Florida CLICK HERE to contact me to assist you with your real estate needs.

 

                              

  

Merline Pennant

Realtor/Broker

Direct Line: (772) 985-7653

email: Merline@RegalRealtyTC.com

Website: RegalRealtyTC.com

 

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Rainmaker
1,019,740
Tim Lorenz
TIM LORENZ - Elite Home Sales Team - Mission Viejo, CA
949 874-2247

Yes this is a problem for those that get behind.  Have a great week.

Nov 19, 2013 11:11 PM #1
Rainmaker
670,978
Patty Da Silva, Davie, Southwest Ranches Cooper City, Plantation, Weston, REALTOR
BROKER of Green Realty Properties® - 954-667-7253 - Davie, FL
Top Listing Broker

Great post Merline. Hope you have a great Wednesday!

Nov 19, 2013 11:23 PM #2
Rainer
121,969
Merline D Pennant - New homes, Short Sales and Pre-foreclosures
Regal Realty of the Treasure Coast LLC - Port St Lucie, FL
New City, New Towns, New homes

Thanks Tim they often find out too late.

Thanks Patty.  You have agreat week.

Nov 20, 2013 12:05 AM #3
Rainmaker
724,201
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Merline-Probably the most important point is the homeowner has to do something when the payment is returned. Don't wait as time is not on their side.

Nov 20, 2013 05:00 AM #4
Rainmaker
930,626
Bob Ratliff
Robert Ratliff Realty - San Antonio, TX
"Sold with Bob"

Merline your working on another gold star with this one girlfriend. You really know how to put the fire under those behind on their payments or only sending partial payments and if they're getting their payments sent back in south Florida they need to be calling Merline D Pennant.

Nov 20, 2013 07:48 AM #5
Rainer
121,969
Merline D Pennant - New homes, Short Sales and Pre-foreclosures
Regal Realty of the Treasure Coast LLC - Port St Lucie, FL
New City, New Towns, New homes

Wayne that means it is time for some serious action.

Thanks Bod I appreciate the encouragement. Yes you spelled my name right.

Nov 20, 2013 10:26 AM #6
Ambassador
3,983,611
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Hi Merline, I seeing you are working hard and delivering great information. I hope you are having a good week.

Nov 20, 2013 12:04 PM #7
Rainer
121,969
Merline D Pennant - New homes, Short Sales and Pre-foreclosures
Regal Realty of the Treasure Coast LLC - Port St Lucie, FL
New City, New Towns, New homes

Thanks Debbie you have a wonderful weekend too.

Nov 20, 2013 11:08 PM #8
Rainmaker
846,015
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Hi Merline-I have seen this happen and the home owner then just sits and does not take any action and soon its curtains!

 

Nov 22, 2013 01:05 AM #9
Rainer
121,969
Merline D Pennant - New homes, Short Sales and Pre-foreclosures
Regal Realty of the Treasure Coast LLC - Port St Lucie, FL
New City, New Towns, New homes

You are so right Marco they are just kiklling themseves.

Nov 22, 2013 07:49 PM #10
Rainmaker
524,558
Lisa Friedman
Great American Dream Realty - Essex, VT
30 Years of Real Estate Experience!

I would think that the bank would be happy to see that the person is at least making an effort to pay.  I am surprised that they would not be flexible in accepting the payments.

Dec 24, 2013 07:52 AM #11
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Rainer
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Merline D Pennant - New homes, Short Sales and Pre-foreclosures

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