When Is It 'Safe' To Collect Foreclosure Fees?

Law360, New York (March 2, 2010, 5:52 PM EST) -- The collection of foreclosure and bankruptcy-related fees in Chapter 13 bankruptcy cases has been the cause of much grief for mortgage servicers of late. Learning how to do it right on the front end of a bankruptcy is the remedy.

Unfortunately, the law varies to a wide degree depending upon the state where the borrower resides. This leaves mortgage lenders and servicers with little ability to streamline activities on a nationwide basis.

Almost every mortgage agreement gives the lender the right to collect fees that it...
To view the full article, register now.