Posted by John Merchantj on June 17, 2005 at 09:54:52:
If the payor isn’t performing EXACTLY as the note states he will, he’s in default and you could foreclose…but if you’ve been accepting his payments beyond a payoff date, you’ve maybe agreed to a modification of that note.
I’d just advise you to notify the payor by certified mail that he is delinquent and your note is due right now…and if he doesn’t pay, proceed to foreclose.