Hello everybody, and thank you for tuning in to the ADR-NOW! Internet Radio Webinar. I am your host, Anthony Johnson.
In this Webinar, we are going to re-visit a topic of importance for every homeowner, "default." With default, you miss a mortgage payment and the bank can opt to proceed with foreclosure. They usually will not do so after missing just one payment. Usually, they will allow you to continue to play "catch-up" on the mortgage because once you miss a payment, they will add on interest, fees, and penalties. That is where "rolling default" comes in to play.
"Rolling default" is when the bank will improperly apply your mortgage payments to interest and fees that had accrued instead of to principal, as required by most servicing agreements.
Be sure to tune in to the FREE Foreclosure Dispute Resolution Webinar, every Saturday here at www.blogtalkradio.com/adrnow.
DISCLAIMER: We are not attorneys. We are not engaged in rendering legal advice. We are Alternative Dispute Resolution Practitioners. If legal advice is required, the assistance of a competent, qualified, legal professional should be obtained.
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