Loss Mitigation; Is it legal to charge upfront fees to assist homeowners negotiate a loan modification?
Monday, August 18th, 2008
tonioah asked:
I am a Realtor and was wondering if it is legal to assist people obtain a Forberance Agreement, Loan Modification, Partial Claim…in order to avoid a Foreclosure and get paid upfront fees for doing so?….The fees are reembursed if nothing gets approved…would these services be legal? I appreciate any feedback…Thanks.
Martha
I am a Realtor and was wondering if it is legal to assist people obtain a Forberance Agreement, Loan Modification, Partial Claim…in order to avoid a Foreclosure and get paid upfront fees for doing so?….The fees are reembursed if nothing gets approved…would these services be legal? I appreciate any feedback…Thanks.
Martha