Legal Question in Real Estate Law in Maryland

I have a mortagage loan that I got behind I talked to the bank and they have told me the only thing I can do is to pay the toatl due. At that time I was not able too. I sell real estate so I get paid when I sell a home. I contacted the bank and told them I want to reinstate my loan because I have the money to pay them now. My home has been in foreclouser process but that bank has said they can stop it if I pay them. The amount of past due is $15,163 in which I have. But they have tacked on Corp. advance and Estimated Legal fees that now bring the Reinstatement fee up to $20,660 in which I do not have. My qustion is are they allowed to do this and should I send them the $15,000 that I have?


Asked on 8/30/10, 10:10 am

1 Answer from Attorneys
Phillip M. Cook Cook Legal Services, LLC

It depends on the terms of your mortgage. You should have a Maryland attorney review your loan documents to determine not only whether they can hit you with the corporate advance and legal fees, but also whether they originally closed your loan properly (if not, you have leverage).

Best of luck.*******The above is intended for informational purposes only and does not create at attorney-client privilege.********

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Answered on 9/04/10, 10:22 am


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