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Based on the limited information that I've found-- the homeowners may have been negotiating a modification or some other terms with the lender; or payments were received that were less than the amount that is in arrears. The bank refunds the amount that was "misapplied" to the mortgage during that period and proceeds with foreclosure. The banks state they could not accept less than the full amount including fees many of which ate not explained in written form. Hope this helps some. Ann
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Can a cleared check be reversed?
Yes, a cleared check can be reversed if there is a valid reason, such as fraud or an error. This process is known as a check reversal or a check chargeback.
What does check reversal mean and how does it impact my financial transactions?
Check reversal refers to the process of canceling a previously deposited or cashed check. This can happen if the check bounces due to insufficient funds or other issues. When a check is reversed, the amount is deducted from your account, potentially causing overdraft fees and impacting your financial transactions by reducing your available funds.
What does funding reversal mean on a debit card?
what does visa reversal mean
Have you been a victim of the Zelle reversal scam?
No, I have not been a victim of the Zelle reversal scam.
What is RVSL?
Reversal
