Legal Question in Real Estate Law in New York

If you are behind in your mortgage payments and are making partial payments can the credit union still forclose, because you cannot show a permanent source of income?


Asked on 3/02/13, 3:32 pm

1 Answer from Attorneys
David Leon David L. Leon, P.C.

The credit union can accelerate the debt for non-payment. A partial payment won't stop that, unless they've agreed to accept a partial payment in lieu of accelerating your mortgage. They don't really care about your showing a source of income (unless you're trying to modify the note.)

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Answered on 3/02/13, 6:06 pm


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