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Yes, the bank can refuse any partial payment that does not bring the loan current.
You are required to pay the monthly amount specified under the terms of your loan contract. Review this contract for policies specific to your bank and your loan.
See Also
Skip-Payment Mortgage: What It Means, How It WorksMortgage Errors | Mortgage Lender Error | The Law Office of Carlos M. Amor, P.A.Mortgage Service Abuse & Force Placed InsuranceFor Borrowers in Trouble: Partial PaymentsLast Reviewed:April 2021
Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on HelpWithMyBank.gov should not be construed as legal advice or a legal opinion of the OCC.
