James Robert Deal’s Answers

James Robert Deal

Lynnwood Bankruptcy Attorney.

Contributor Level 5
  1. Mortgages

    Answered almost 4 years ago.

    1. James Robert Deal
    1 lawyer answer

    Of course you can charge a fee to pay for collection work. However, I strongly suggest that you arrange for a professional collection account to handle the payments and require that the buyer pay the set-up fee and the monthly maintenance fee. The collection account will hold the original note and deed of trust and deliver or reconvey them when the buyer has paid the full balance. The collection agent can keep track of when the buyer has failed to pay on time and impose late payment penalties....

    1 person marked this answer as helpful

  2. Could someone advise me on what to do about my mortgage situation?

    Answered almost 4 years ago.

    1. James Robert Deal
    1 lawyer answer

    There are facts I would need to know in order to answer your question fully. However, I can be fairly sure about the following: As long as HSBC has not foreclosed, this is still your house. Do you need a place to live? Move back in. Or put a renter in the house. Lenders have so many foreclosed homes in their inventory that they often will let people stay in them for years without making payments. Has HSBC taken possession of the house and changed the locks? The mortgage modification process...