Legal Question in Real Estate Law in New Jersey

Re: Attorney Fee (2 mortgages...2 closings?!)

He is ripping you off, it is only one settlement and it makes no difference even if there are 4 mortgages, as long as it is done at the same time and place. Call the NJ bar association and file a formal complaint.

Re: Attorney Fee (2 mortgages...2 closings?!)

WHILE THERE ARE 2 SETS OF MORTGAGE DOCUMENTS TO BE SIGNED AT THE CLOSING, THERE IS ONE CLOSING TAKING PLACE. I AM SURE HE USED THE SAME CONTRACT OF SALE AND TITLE INFORMATION FOR THE SECOND CLOSING. IT MIGHT TAKE A LITTLE LONGER FOR THE CLOSING (SO A SMALL FEE FOR THE ADDITIONAL TIME MIGHT BE CHARGED). I NEVER QUOTE 2 CLOSINGS WHEN A FIRST AND SECOND MORTGAGE IS INVOLVED, JUST ADD A LITTLE FOR THE ADDITIONAL TIME AND THE EXTRA RECORDING FEES. IF YOU HAD NOT SIGNED A RETAINER AGREEMENT SPECIFYING THE FEES, YOU COULD LODGE A COMPLAINT WITH THE LOCAL BAR ETHICS COMMITTEE. IF THERE ARE 2 SEPARATE LOCATIONS HE HAS TO GO TO CLOSE THE SECOND LOAN, YOU ARE BEING OVERCHARGED.

Re: Attorney Fee (2 mortgages...2 closings?!)

My retainer agreement clearly states that the second mortgage is not included. We charge $150-$250 for a second mortgage because of the extra time and the additional risks and obligations to our office. Absent a retainer agremeent, I would not be comfortable charging an additional fee. In any case, $500 is excessive. I suggest carefully reviewing the closing statement for any other irregularities.