Legal Question in Real Estate Law in Texas

Foreclosure fees legal?

My husband and I have suffered serious financial difficulties over the last several months; we are almost 90 days past due on our mortgage. I attempted to catch the payments up but for several dumb reasons (including my own poor math skills) the check bounced. Today someone came to my door and gave me a form with my mortgage company name and a phone number on it and advised me to call right away. When I did, I went straight to a voice mailbox; I left a message, and asked for a return call. When I got my return phone call, I was advised that my mortgage company had started foreclosure proceedings, but no sale date was set yet. He also said in order to stop the foreclosure proceedings I needed to send $3,000 by Western Union by next week. He also told me that attorneys fees would be taken out first, and the balance applied to the late payments. He could NOT tell me the amount of the fees. Something seems fishy. Can they do this? What are legal limits on fees? Am I not entitled to a breakdown of how the monies are applied? I could potentially send them 3K and STILL be 3 months behind. Help!!!


Asked on 3/31/04, 9:20 pm

1 Answer from Attorneys
Robert Restivo Restivo Law Firm

Re: Foreclosure fees legal?

Howdy:

You neeed to call the mortgage company (use the number on the payment coupon) and ask for a reinstatement quote. This will be the amount due to bring the mortgage current. They will usually want you to Federal Express a certified check or wire the money.

But, be sure you're dealing with the mortgage company.

Once they give you the reinstatement quote, it'll be good for a specific period, and it will cure the default.

rkr

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Answered on 4/03/04, 2:15 pm


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