We are a Law Office. How do we get Equator to accept our legal fees on the settlement? HELP

When we submit to any other lender, we never have our fees kicked out of the deal.  Equator took our fees off!  Do I need to put it somewhere specific?  What do I need to title it?

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It might help if you send an email/message to the negotiator explaining the situation. I've had to do that on certain things like septic pumping, etc. Sometimes once they understand the situation they go along with it.
Agreed. We are seeing that some of the lenders are starting to kick off legal fees as well as negotiator fees. Some are starting to wrap these into the commissions. The commission is a fee the banks understand.

There has been some "abuse" on padding extra fees into the HUD 1 so lenders have been reacting more and more as of alte.

Steele
I'm a Realtor and my seller clients also hired an attorney. I kept getting counter offers with the legal fees removed so I finally reduced my commission by the amount of the legal fees and it got approved. Just keep submitting it in your counter offer with a note to the negotiator.
BOA wants everyone to work for free. They are losing hundreds of millions because they refuse to compensate properly the Realtors, lawyers, and negotiators who are helping BOA mitigate their losses. I would list more BOA short sales if they would compensate properly. Thousands of BOA loans go to foreclosure because professionals turn down BOA borrowers who need a short sale. We simply cannot afford to pay our staff to help BOA and then get underpaid by BOA. We cannot operate at a loss, we don't get bailout money.

Equator is helping BOA make really bad decisions faster and more efficiently. I call it efficient ineffectiveness.
BOA is now rejecting good offers with no counteroffers at an alarming rate. Absence of a counteroffer is causing buyers to flee in disgust. All that after expensive staff time to procure buyers and feed BOA the information they need. So, in addition to getting underpaid on deals that close, we get no payment on deals that BOA kills.

How about their rule that they won't postpone auctions until 2 days before the auction? They sit on the offer until the last day, then reject it, then go to auction where BOA gets to own an abandoned house and rack up more losses. Shareholders and taxpayers should know about this.
Dave

Well said and I agree completely. If Bank of America wants to stave off the tide of foreclosures they need to more agressive with short sale acceptance. Let us hope things change for the better.

Sam

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