Question 1

How do I find out exactly how much I owe to reinstate my mortgage?

Accepted Answer

Call your loan servicer and request a written reinstatement quote (sometimes called a 'cure amount' or 'reinstatement letter'). It will itemize exactly what's owed as of a specific date and how long that quote is valid — use that figure, not an estimate, once you have it.

Question 2

Is reinstatement the same as paying off the mortgage?

Accepted Answer

No. Reinstating brings the loan current — you go back to making regular monthly payments as before. Paying it off (a payoff quote) retires the entire remaining balance. Reinstatement is almost always far less money.

Question 3

Can I reinstate a mortgage at any point during foreclosure?

Accepted Answer

Most states give the borrower a right to reinstate up until some point before the foreclosure sale — often shortly before the auction date, though the exact cutoff varies by state and by the loan's terms. Once past that point, the options usually narrow to paying off the loan in full or losing the property at sale.

Question 4

What are reinstatement fees, specifically?

Accepted Answer

Late fees accrued each missed month, legal and trustee fees for initiating the foreclosure, and sometimes inspection or property-preservation fees the servicer charged while the loan was in default. They're billed on top of the missed payments themselves.

Question 5

Does reinstating fix my credit?

Accepted Answer

Reinstating stops the foreclosure, but the missed-payment history already reported to the credit bureaus generally stays on your credit report — reinstating prevents further damage from a completed foreclosure, it doesn't erase what already happened.

How Much Does It Cost to Reinstate a Mortgage?