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I am three monthly payments behind on my mortgage loan. I tried to make one payment, but the bank is demanding all three payments to bring the mortgage current. Is this legal?

Yes, the bank can refuse any partial payment that does not bring the loan current.

You are required to pay the monthly amount specified under the terms of your loan contract. Review this contract for policies specific to your bank and your loan.

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on HelpWithMyBank.gov should not be construed as legal advice or a legal opinion of the OCC.

Related Questions

I am struggling to pay my mortgage and would like to get assistance. What should I do?

I mailed my mortgage payment before the due date. But the bank received it one day after the due date, and I was charged a late fee. Can it do this?

My monthly mortgage payment is $500 (principal and interest). I sent a payment of $1,000 with the intent of applying the surplus to the principal, but the bank applied the entire surplus to the interest. Can it do this?

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