We owe 2 months payment on our mobile home. We can come up with one of the payments, but the finance company says that they want all the money at one time or they will start repo. One of the payments is only 9 days late, and I can come up with that money at the beginning of the next month. The representatives, for this company, are so nasty. They ask what we do with our money, and pry into our lives. I don't know what else to do.

JoLem59

Send them the one months payment. If your other payment is only 9 days late they won't start foreclosure. They may be nasty but they did give you the money and you are the one defaulting. If you loaned money to a stranger and he defaulted you would be mad too.

I agree that you should send them what you have. Our company tried this with us one time. We were two months behind and the third month was due and we didn't get that one paid on time either. They threatened us with foreclosure, scared us enough that we spent my husband's entire paycheck to get caught up leaving no money for food, gas, or anything else. That just put us into a bigger predicament across the board instead of just with the mortgage company.

I later learned that even though they tell you to send an entire payment at one time instead of piece by piece, if you do sent them a partial payment, it just goes into an escrow account and when there is enough for a full payment, they take it out and apply it to the payment. It is just a minor inconvenience for THEM but it is what it is there for. Besides, they know that if you send a partial payment and they took you to court right then, the judge would look favorably upon you for at least attempting to pay it!

Keep in mind that they are almost always willing to work with you to some extent because the last thing they want is to repossess. Also remember that even though you are sending money, the fact that it is late is going to look bad in your account if you need to refinance with them for whatever reason. Even if you pay within 30 days! A sad fact we are just learning about...

As a disclaimer, I am by no means an expert in financial matters. I just know what I have experienced when dealing with our own mortgage company.