Posted on: 26th Jul, 2012 08:19 pm
Sorry to start a new post, but I have a question that is different from my other post.
So, here I am.....in the "pre" foreclosure phase as Wells Fargo attorney has stated.
May-Jun I tried desperately to talk to my home preservation specialist to do a loan mod or see what I could do, but she would not return my calls. They turned everything over to their attorney on 7-6. I get a letter from the attorney on 7-13 & respond right away as I am in the process of getting an early 401K withdrawal to prevent foreclosure and need the new reinstatement amount.
On 7-18 the attorney responds, and in a nutshell, their fees are around $4k. For what? For sending a letter or two? If I'm in the "pre" foreclosure phase what work would they have possible done to earn $4k? The items the list seem to be items that would occur further down the road - like serving me papers, filing court papers, etc. They only wrote me 2 letters so far - no sale date or anything like that has been set yet.
Are these typical fees? I find this unfair since I did everything I could to find out what my options where and got no response. Now if I proceed with a loan modification (which Wells Fargo says I can still do) they will tack on these fees to my loan - will I still be able to fight them after that point?
So, here I am.....in the "pre" foreclosure phase as Wells Fargo attorney has stated.
May-Jun I tried desperately to talk to my home preservation specialist to do a loan mod or see what I could do, but she would not return my calls. They turned everything over to their attorney on 7-6. I get a letter from the attorney on 7-13 & respond right away as I am in the process of getting an early 401K withdrawal to prevent foreclosure and need the new reinstatement amount.
On 7-18 the attorney responds, and in a nutshell, their fees are around $4k. For what? For sending a letter or two? If I'm in the "pre" foreclosure phase what work would they have possible done to earn $4k? The items the list seem to be items that would occur further down the road - like serving me papers, filing court papers, etc. They only wrote me 2 letters so far - no sale date or anything like that has been set yet.
Are these typical fees? I find this unfair since I did everything I could to find out what my options where and got no response. Now if I proceed with a loan modification (which Wells Fargo says I can still do) they will tack on these fees to my loan - will I still be able to fight them after that point?
Hi sjhm,
You may ask your attorney to dispute the fees. But it will depend upon the lender whether or not he will reduce the fees.
Thanks
You may ask your attorney to dispute the fees. But it will depend upon the lender whether or not he will reduce the fees.
Thanks
The bank probably pays a flat fee to the attorney for the foreclosure. Since you let the loan go to the attorney, the bank probably paid the full fee up front. That is why you have the whole fee. Everthing is negotiable.
Can someone give me negotiation tips on the attorney fees? Who to I negotiate with? Wells Fargo or the attorney?
I've been calling Wells Fargo non-stop to argue the point I had been trying to call the home preservation specialist since May-Jun and she ignored my calls. The options I needed to know about were not given to me. I feel like this is part Wells Fargo's fault - is they had answered my call in early May I would have complied with any option offered to me. They also knew mid-May that I was taking money out of my 401K to pay all past due amounts & fees. The woman I spoke to yesterday agreed that my home preservation specialist should have returned my call in May, but went on to state that there is nothing they will do to reverse the attorney fees.
Are these solid argument points?
I've been calling Wells Fargo non-stop to argue the point I had been trying to call the home preservation specialist since May-Jun and she ignored my calls. The options I needed to know about were not given to me. I feel like this is part Wells Fargo's fault - is they had answered my call in early May I would have complied with any option offered to me. They also knew mid-May that I was taking money out of my 401K to pay all past due amounts & fees. The woman I spoke to yesterday agreed that my home preservation specialist should have returned my call in May, but went on to state that there is nothing they will do to reverse the attorney fees.
Are these solid argument points?
Welcome sjhm,
If the attorney is not associated with Wells Fargo, then you can negotiate with him on your own. However, if the attorney is associated with Wells Fargo, then you will have to negotiate with them.
If the attorney is not associated with Wells Fargo, then you can negotiate with him on your own. However, if the attorney is associated with Wells Fargo, then you will have to negotiate with them.