Payoff mortgage arrears

UPDATED: Oct 1, 2022

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Payoff mortgage arrears

My bankruptcy case was dismissed after 2 years, I received a letter from my mortgage company within 1 month of the dismissal stating that I am over $6000 in arrears. They require that I pay the full amount within 33 days of the date of the letter 12/22. I have paid $2700 thus far, however I am concerned that I might not be able to payoff the full amount by the due date. What are my options?

Asked on January 4, 2018 under Real Estate Law, Florida


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

You are legally responsible to pay off the arrears. That means you legally have to pay them off *now*: the lender or mortgage company can choose to give you more time to pay but is not required to--it is voluntary on their party whether to give you time to pay. If they choose to not give you additional time and you don't pay by when the want the money, they could sue you for the remaining balance.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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