how do banks receive and record your mortgage payments? do they type it by hand? do they use a machine do to scan and record it automatically? Ricky On a regular payment it is automatic. If you just send in a check without a payment ticket a manual ticket is made and processed. It is [...]

Hello, I will be very thankful if someone can explain in 1/2 words about the banking procedures in cases when the borrower stops the monthly payments to a mortgage. Thanks Here is a good overview on the foreclosure process: http://www.biggerpockets.com/foreclosure-process.html I hope this helps you to develop the understanding you seek. addthis_url = ‘http%3A%2F%2Fwww.selviceevler.com%2Fmortgage-payments%2Fwhat-is-the-procedure-in-mortgage-payments-delay’; addthis_title [...]

I keep thinking I am doing it wrong. I use to work as a loan processer, but all I had to do was enter the figures into CAYLX software and it did the math for me. So just to assure I am not screwing up… Can someone tell me how to come up with the [...]

Hi, My partner and I are 3 months behind on our mortgage payments due to losing my job,xmas etc…. when would the bank start repossession proceedings? or if we catch up in 2009 will we be ok?? Thanks UK ONLY Im not from the UK…but due to global economic issues, most banks are willing to [...]