Brandon’s Question: "My lender is tring to charge 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."
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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 the same lender and they said their lawyers had checked it out and confirmed that it is legal. So, it probably is legal. We checked with Brandon and found out a little more information. Turns out the loan is owned by Deutsche Bank.
We convinced the lender to waive the fee on that short sale. We threatened to contact Deutsche Bank and let them know what was happening. Sure, it's wrong. But, do you know why this lender can get away with it? It's because the people who own the mortgages don't know about the fee. When you threaten to contact the loan owner, then that changes everything.
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Or, if you prefer, you can call me at 805-208-0823
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Thanks for reading this,
Chris B Johnson.
Chris B is a Real Estate Agent at Prudential Califonia Realty.
Certified HAFA Specialist, Certified Short Sale Specialist
View My homes for sale at www.ChrisBJohnsonRealtor.com.
Chris Johnson specializes in loan modification assistance and short sales in Ventura County California. Ventura County Loan Modification Help, Ventura County short sales. Ventura County Short Sale Realtor Ventura County CA Short Sales. Ventura County Realtor. Copyright 2012 SFI Marketing Institute, LLC. All Rights Reserved.
Important Notice Chris B Johnson, Prudential Califonia Realty, and the Stop Foreclosure Institute are not affiliated in any way, shape, or form with the government. Our services have not been reviewed or endorse by the government or your lender. Most lenders willingly work with agents on short sales. Why? Because most short sales are beneficial to a lender. If you accept our offer to help you on a short sale, your lender may not agree to a short sale or to modify your loan. We do offer a loan modification kit. However, the likelihood of negotiating a modification is like everything else in life. It takes work and persistence to convince your lender to modify your loan. No matter what you or we do, your lender may not approve a loan modification. We do not recommend that you stop paying your mortgage, because this will cause damage to your credit and could cause you to lose your home. Because we know avoiding foreclosure is so important to any homeowner, we recommend that you speak with the appropriate legal or tax advisor before making any decision. This is not intended as legal, technical, or tax advice. Please speak with a licensed professional before making any decision. Information is deemed reliable but not guaranteed as of the date of writing. You have the option to reject a short sale or loan modification from your lender if it does not meet your approval. If you decide not to go thru with the short sale, then you do not have to pay us our fee. We normally make a real estate sales commission for helping you on a short sale. The views expressed here are Chris B's personal views and do not reflect the views of Prudential Califonia Realty. This information on Ventura County Short Sale Question: My Lender Is Charging The Buyer A Fee To Buy My House is provided as a courtesy to our viewers to help them make informed decisions. Choose The Best Short Sale Agent in Moorpark