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Morris County Short Sales: Another Example Of Lenders Attempting To Abuse Their Power
Morris County NJ – The Stop Foreclosure Institute recently received a question from Durry. Here was Durry’s Question. "We have American Home Mortgage Servicing, a loan processor for a Mortgage held by Deutche Bank, adding a 1% “processing fee” that ONLY the buyer can pay at closing. This was never revealed until we received the short sale approval letter. The buyer is upset.” Durry. Discover how other sellers successfully did a short sale to avoid foreclosure by clicking here. Here was our answer to Durry’s Question. 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." I think this fee is unethical. We had the fee waived on a short sale we did. Your e-mail indicates that the buyer does not want to pay that fee. The buyer needs to decide if they will or will not buy the house with the current terms and that fee. If that is the case, then you need to have the buyer put that in writing. Send that letter to American Home Mortgage Servicing. Here is the problem that AHMSI has. ... more

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