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San Diego Short Sale: My Lender Is Charging The Buyer A Fee To Buy My House
Eastlake CA – The Stop Foreclosure Institute recently received a question from Brandon. Brandon is selling his house and something very interesting happened.
Brandon’s Question: "My loan is with American Home Mortgage (AHMSI for short.) They are charging a 1% short sale processing fee to the buyer. Is that legal?
The buyer is upset. They have stipulated that ONLY the buyer can pay the fee. This was never revealed until the short sale approval letter arrived. Brandon."
Get my Free, Step By Step Loan Modification Guide by clicking here.
Our comments on this. Yes, the buyer is upset. Buyers think they are in control in today's market. They can't see why they should pay a fee if they are buying a house in a "Buyer's Market." Is it legal?
 We did a short sale with AHMSI and they said their lawyers had checked it out and confirmed that it is legal. So, it probably is. We checked with Brandon and found out a little more information. Turns out the loan is owned by Deutsche Bank. We convinced AHMSI to waive the fee on that short sale.
We threatened to contact Deutsche Bank and let them know what was happening. Sure, it's ... more

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