can they still foreclose?

[zathrus]

What is the name of your state? NY

Late October we received a notice that our co-op was going into foreclosure. We contacted the lawyer and fond out the amount that would need to be paid to stop the foreclosure. We paid this amount before the date that it was due. Later that week, we found out that the mortgage company needed a letter from the maintance company stating that they (the maintance co.) didn't want to go through the foreclosure and that a payment plan was set to pay the maintance. We had this taken care of. After calling again to make sure that everytihng was ok. we found out that they payment that we made was being returned and that the lawyer adjusted the lawyer fees. We understand that this could happen. But we asked if we could get a forebarance to have some time to get the new amount together. We are only being given till the date that they sale was set. We were never notified that the new amount was due until i called. Can our co-op be foreclosed even though we paid the lein that was on the property? Can they foreclose for legal fees? please get back to me as soon as possible

 

[seniorjudge]

Generally, if a loan goes into default, the creditor does not have to take partial payment and may declare the whole amount due, even if partial payment is made.

Read the instrument that created the lien (probably a deed of trust or mortgage).