Everhome Wants to Charge Seller $1800 To Stop Foreclosure

I am the listing agent and my client is doing a short sale. We have just been advised by Everhome inorder to stop their foreclosure next Tuesday, the seller will need to pay a fee of $1800 for the attorney to stop it. Plus, they want to increase the sales price of the property by $7000. This is really crazy that the bank wants the seller to pay them $1800. If that was the case, the seller could probably pay on their mortgage. We have been working on the file since March. Can someone please tell me if there is anything that can be done about this. We are not trying to have this property go into foreclosure.

Thanks,

Gwen Harvey

Solid Source Realty GA

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Replies to This Discussion

Permalink Reply by Wendy Rulnick on June 29, 2012 at 9:32am

Gwen - I've actually run into that before. The property may be in their charge-off department. See if they will negotiate the $1800 - consider having the seller call the negotiator to tell her story. As for the contract price, counter, maybe the buyer will pay it. Negotiate.

Permalink Reply by joe beauchamp on June 29, 2012 at 2:50pm

In many areas, brilliant politicians have made laws to "make things right" and have created huge problems. There are states/counties where the bank has to pay a hefty price to postpone a sheriff sale. It could be that in your case, it would cost them $1800 in sheriff fees or some other thing to postpone and they are just passing that on to you.

Another example - you want to at least make partial payment or after 6 months, you can now make some payments - make it easier on you and do what you think is right. The bank will not take your money because they have to restart the legal process that they started 6 months ago and pay lawyers $$ to restart. So, you fall down, with some laws to "help you" they make sure you stay down. You may be the victim of something like that - check you laws?

Also, find out who the lawyer is for the bank. You would be surprised how some of them will just temporarily lose the paperwork to give you a couple of weeks time. Really, no kidding.

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