As I posted yesterday, I'm reporting back on the closing costs
charge to my buyer after the bank had agreed to pick and pay for title
and closing costs services. After we review the HUD settlement statement
and notice those bogus charges, we referred the matter to our customers
attorney. Unfortunately, my customers attorney was weak and didn't
understand the written contract and allowed the Title company to
charge his clients $350.00; the attoneys feelings: "it was a compromise".
There is a $325.00 savings over the $775.00 the Title company tried
to charge. So, we feel somewhat satisfied.
We have sent this to The State Licensing and regulatory Dept. for review and hope they
look at the possibility of action to be taken against these predatory practices.
This should not be a situation of compromise but rather a contract
to be adhered to.
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