Partial mortgage payment to prevent foreclosure.

Yes, the lender can, and is likely to foreclose. Unless it agrees for a period of time to take less than the full contractual payment, it may either reject something less than a full payment, or else put it in a "suspense" account until there is enough in there to equal a full payment. If it goes the suspense route, over a period of months you will be falling further and further behind, and then eventually will be far enough behind to foreclose. Or, if they reject less than full payments, the point of foreclosure will come more quickly. There are two possibilites. You can contact Chase to see if they will agree to take less than the full payment. It may be that they will temporarily. However, if they do, they will be adding the shortfall to the total loan balance, so your mortgage will be getting larger, not smaller. SInce the total is going steadily upward, and presumable to a number higher than the value, the odds of your ever being able to sell or refinance the property move steadily out of reach. The other possibility is to contact an attorney who is knowledgable in mortgage and foreclosure law. It is possible that Chase is not properly calculating the revised payment amount or interest rate. You would be amazed at how often that happens. The National Association of Consumer Advocates (NACA) is a non-profit consumer advocacy organization. NACA maintains a web site at www.naca.net where it lists geographically consumer law attorneys all over the US. If you don't already have an attorney, please look there for someone in your area who specializes in foreclosure defense to review the details with you and advise you.

Yes, the lender can, and is likely to foreclose. Unless it agrees for a period of time to take less than the full contractual payment, it may either reject something less than a full payment, or else put it in a "suspense" account until there is enough in there to equal a full payment. If it goes the suspense route, over a period of months you will be falling further and further behind, and then eventually will be far enough behind to foreclose. Or, if they reject less than full payments, the point of foreclosure will come more quickly. There are two possibilites. You can contact Chase to see if they will agree to take less than the full payment. It may be that they will temporarily. However, if they do, they will be adding the shortfall to the total loan balance, so your mortgage will be getting larger, not smaller. SInce the total is going steadily upward, and presumable to a number higher than the value, the odds of your ever being able to sell or refinance the property move steadily out of reach. The other possibility is to contact an attorney who is knowledgable in mortgage and foreclosure law. It is possible that Chase is not properly calculating the revised payment amount or interest rate. You would be amazed at how often that happens. The National Association of Consumer Advocates (NACA) is a non-profit consumer advocacy organization. NACA maintains a web site at www.naca.net where it lists geographically consumer law attorneys all over the US. If you don't already have an attorney, please look there for someone in your area who specializes in foreclosure defense and bankruptcy to review the details with you and advise you.