I'm confused about accruing interest regarding debt instruments. I hope that someone on this board can answer my questions or maybe point me in the right direction. Here goes....My boss hasn't paid his house payments for almost 3 years (yes, this is horrible!). Are mortgages subject to the 180 day rule regarding charge-offs and can they accrue and compound interest and charge late fees after the 180 days (if this applies). The bank got a default judgement (with improper service) and we are going to court in a few weeks to vacate judgement, but need to dispute the balance owed and improper service to vacate. Help!!!!!!!! Sirrowan
just to let you know that you aren't being ignored. I don't have your answer. Maybe you should consult an atty.
Secured loans have different rules. I think that they can continue to charge interest, but I'm not sure about late fees after the forc. notice is sent out. State laws also kick in here because it's a real estate issue. Previous poster is right - you need to consult an Att'y. If he hasn't paid in 3 years I'm surprised the sherrif hasn't shown up to evict. -mj
