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Refinancing Home Mortgage
In: Mortgage Loan
16 Dec 2009I’m current on my note. This is just a general question. I know about foreclosure for non-payment. I’m asking a hypothetical question. Can a mortgage company arbitrarily call in their home loans anytime they want and for any reason? or under what circumstances can they call in a mortgage loan, other than default?
This is about mortgage information questions.
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2 Responses to Can troubled morgage companies call in their mortgage loans?
acermill
December 16th, 2009 at 8:00 am
They cannot call them in as long as you honor your terms of the agreement. A mortgage is a contract, and both sides are required to honor the terms of same.
Landlord
December 16th, 2009 at 8:07 am
No, they can not call it in unless the original agreement calls for it (such as a balloon payment), you break the contract, or they find something fraudulent in your records.