Banks sometimes return payments to borrowers instead of cashing them. This very often happens if a loan payment is late. If this happens to your payments, you can still save your home. Many mortgage modifications are granted even after mortgage payments have been returned uncashed. Unfortunately, returned payments are often a sign that the bank is preparing to foreclose.
If a bank sends back your mortgage payment, seek immediate experienced advice.
If a bank returns a payment instead of cashing it, be certain not to spend the money! Saving uncashed, returned payments is often the key to successfully saving a home through governmental plans or private mortgage modification.