Posted on: 25th Dec, 2010 01:29 pm
I live in Massachusetts, the bank has filed the proper papers for deficiency. I called the bank to let them know I was taking the money out of my retirement to take the house out of foreclosure. Now on top of the thousands of dollars I am paying the bank, they are making me pay over 6,000.00 in attorney fees. Is this something that I have to pay or will the bank cancel the foreclosure once I have paid the over due amount. Also the person at collections three weeks ago told me they were still at the beginning stages of the foreclosure and yesterday I received a letter stating they will be auctioning the house under a power to sell on Jan 26th. Thanks for the help, Merry Christmas.
I have no idea what you just said.
Hi cvelez,
Once you pay off the deficient balance, the lender will cancel the foreclosure process. In that case, there are chances that you won't be liable for paying off the attorney fees. However, if the account has been sent to the collection agency, then you should ask the lender to bring back the account from collections and then pay off the amount to them.
Once you pay off the deficient balance, the lender will cancel the foreclosure process. In that case, there are chances that you won't be liable for paying off the attorney fees. However, if the account has been sent to the collection agency, then you should ask the lender to bring back the account from collections and then pay off the amount to them.