If my mortgage payment is not received and I was not made aware until the 2nd week of the following month, can late fees be assessed?
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If my mortgage payment is not received and I was not made aware until the 2nd week of the following month, can late fees be assessed?
Asked on November 29, 2011 under Real Estate Law, Texas
Answers:
Brian Spaulding / Law Offices of Brian P. Spaulding, LLC
Answered 12 years ago | Contributor
It depends on the language of your mortgage agreement. Normally, the language requires that the lender receive the payment by the due date. Thus, the burden is on you to ensure your payment is received. Therefore, late fees can probably be assessed unless the error was on their end. I'd look at the language of your mortgage agreement.
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