If a mortgage contract does not specifically state that a payment cannot be deferred, or has no reference to deferring a payment, can a mortgage company state that they have certain policies in effect regarding to this matter, then later state that the policy quoted was 'not real' and that they do not have to state on the contract what the policy is regarding deferment of a payment/s is?

Example, you have asked to defer a payment and are told that you must be 3 months behind in payments before you can make a request that the payment be deferred. The request is then sent to a board for review and they make the determination as to whether or not they will allow the deferral.

Later, ask about the policy and are told that the information you were given is not policy and that the company does not defer payments. You state that there is no mention of this in your contract and are told that the mortgage company does not have to disclose this type of information on the contract, that it is implied.

Can they do that?

LisaB4657

Without reading the specific document I will say that yes, they can do that. Mortgage notes and mortgages have a specific statement that all payments are payable when due and failure to make a payment will be a default.

Deferring a payment, if it is not specifically allowed in the documents, is not required. That doesn't mean that you can't request that they defer a payment. But they don't have to do it and they don't even have to consider doing it unless your mortgage documents say that they have to consider it.