The Real Deal Miami

Lenders hunt homeowners down

April 27, 2009 03:50PM

If a homeowner is more than 30 days late on a mortgage payment and a lender can’t get a hold of him or her by phone, the homeowner is going to get a drive-by visit from a representative of the lender, and will be charged a fee of $15 to $20 a month — on top of a late fee — until the homeowner makes a payment or other arrangement with the mortgage lender. Watch the first 54 seconds of the video below.