Reinstatement Calculation
Hi there,
Just receievd a calc from the attorneys and was wondering if anyone can help explain a certain line item.
The calc shows the expected back payments and interest, attorneys fees, escrow, but also shows a line item called "Corporate Advance," which is rather high (about 2 mortgage payments.
Any ideas what this is for?
Thanks in advance!
cz,
Not sure but sounds like it might be for payment of taxes or insurance or PMI if the escrow account was short and these payments came due.
Lenders have all sorts of junk fees that they throw into the mix in a preforeclosure situation. Bogus inspections and "lawn maint" fees. It is crazy.
All the homeowner can do is pay them and the lenders know it. The B&C lenders are the worst.
William Tingle
WilliamGA