The letter contains a few key pieces of information:
Amount owed: Missed payments, late fees and default charges will be listed in the letter. If your mortgage has entered into foreclosure, you'll typically see additional foreclosure fees. Due date: You must pay the amount you owe by this date. If the agreement allows for multiple payments, it will include multiple payment due dates. Expiration date: The mortgage reinstatement quote will expire on this date, usually 15 – 30 days from the day it was issued. If you can’t make your payment(s) before the expiration date, you’ll need to request an updated quote from your lender. Payment instructions: Your lender will tell you where to send the money. Pay close attention to the instructions. If you're in a nonjudicial foreclosure (a foreclosure without a court order), you may need to send your payment to a trustee, not your lender.