We recieved a foreclosure notice in the mail last week. The day before DH's cashout of his 401 came in the mail of course...
I called the bank to pay off the amount owed. It was significantly higher than I anticipated...3600.00 in fact.
*gulp*. The $3600.00 is an attorney fee for the foreclosure. The bank states that we must pay that fee in addition to the back payments in order to take it out of foreclosure. I am panicked now. If they dont foreclose, why do they need an attorney and why do I have to pay for an attorney if they arent foreclosing.
And logically...if I cant pay the mortgage, how in the heck am I going to pay them additional $3600.00. Seriously.
Can anyone explain this? Know of a loophole? Advice? Help! =/
I called the bank to pay off the amount owed. It was significantly higher than I anticipated...3600.00 in fact.
*gulp*. The $3600.00 is an attorney fee for the foreclosure. The bank states that we must pay that fee in addition to the back payments in order to take it out of foreclosure. I am panicked now. If they dont foreclose, why do they need an attorney and why do I have to pay for an attorney if they arent foreclosing.
And logically...if I cant pay the mortgage, how in the heck am I going to pay them additional $3600.00. Seriously.
Can anyone explain this? Know of a loophole? Advice? Help! =/