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Roll Attorney's Fees into First Mortgage?
Answer by Dan Persfull, BOL Guru
Guru Bios
Question: The foreclosure process began on a customer, but her loan was brought current prior to us filing the foreclosure. Are we able to roll the attorney's fees incurred into her first mortgage? Is this a finance charge? Would this be considered a change in terms?
Answer: This will be dependent on whether your loan/security agreement allows it, in addition to any possible state laws governing the collection of attorney fees.
First published on BankersOnline.com 4/28/08
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