Can troubled morgage companies call in their mortgage loans?

Brandon E asked:


I’m current on my note. This is just a general question. I know about foreclosure for non-payment. I’m asking a hypothetical question. Can a mortgage company arbitrarily call in their home loans anytime they want and for any reason? or under what circumstances can they call in a mortgage loan, other than default?

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Tags: Circumstances, Hypothetical Question, Morgage Companies

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2 Responses to “Can troubled morgage companies call in their mortgage loans?”

1. acermill Says:
   November 3rd, 2008 at 2:48 pm

   They cannot call them in as long as you honor your terms of the agreement. A mortgage is a contract, and both sides are required to honor the terms of same.

2. Landlord Says:
   November 5th, 2008 at 3:13 pm

   No, they can not call it in unless the original agreement calls for it (such as a balloon payment), you break the contract, or they find something fraudulent in your records.

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