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Posted by Bill H on October 28, 2006 at 12:34:23:
In Reply to: re-instatement posted by Ron Ramey on October 28, 2006 at 11:52:30:
: What exactley is a re-instatement fee and can it stop foreclosure?
Give us a bit more info Ron.
Normally fees are charges that are incurred for work or services performed.
reinstatement...means that you have the right, as the owner or interested party being foreclosed on, to pay the arreages and bring the loan current and stop the foreclosure.
To me, per your post, a reinstatement fee would be those additional charges that the lender is allowed to add to the amount(s) due..ie., attorney fees, any fee or cost involved in getting the foreclosure process started.
And; as I read you post...NO..simply paying the fees would not necessarily stop the foreclosure. ALL arreages would have to be paid.
Good Luck,
Bill H
