Redemption Question

What is the name of your state?What is the name of your state? Missouri

We had some financial difficulties early this year and fell behind on house payments. Things are okay now but mortgage company accelerated the note because we were unable to come up with the full amount past due (although payments in excess of minimum were made, mortgage company did not apply the additional amount to past due payments as requested). We have now secured funds to reinstate the loan but are being required to pay funds to trust company that initiated foreclosure process. How do we determine what is "reasonable and customary" for these charges? Are we entitled to documentation for these charges to make sure we are only paying for the processes that were actually initiated? Costs being requested are $3,900+ to reinstate loan and $1,477 to trust company.

[MortgageGuru]

I've seen them as high as $25,000 before. Pay the amount, move on and enjoy life.

[HomeGuru]

Originally Posted by djkramer5

What is the name of your state?What is the name of your state? Missouri

We had some financial difficulties early this year and fell behind on house payments. Things are okay now but mortgage company accelerated the note because we were unable to come up with the full amount past due (although payments in excess of minimum were made, mortgage company did not apply the additional amount to past due payments as requested). We have now secured funds to reinstate the loan but are being required to pay funds to trust company that initiated foreclosure process. How do we determine what is "reasonable and customary" for these charges? Are we entitled to documentation for these charges to make sure we are only paying for the processes that were actually initiated? Costs being requested are $3,900+ to reinstate loan and $1,477 to trust company.

**A: pay a couple hundred bucks to have an attorney review the papers.

[Ciarraine]

Originally Posted by djkramer5

Costs being requested are $3,900+ to reinstate loan and $1,477 to trust company.

Reasonable. Pay it. Save the money you would have spent on HomeGuru's attorney and use it celebrate that the nightmare is over.