Another twist: Borrower was notified prior to January changes that payments plus taxes were delinquent and needed to be brought current. They recently sent in a partial payment, but taxes not paid.
1. Because a partial payment was accepted on payment, does the 120 day count now apply? No grandfather?
2. Or, can we continue with foreclosure because the taxes were not addressed? and, Does the foreclosure due to taxes even come into play on the new foreclosure rules?
I failed to mention, we are a small servicer and we do not escrow. Therefore, taxes can become an issue from time to time.
Last edited by jnewt; 02/11/14 08:48 PM.