Saturday, March 28, 2015

I bought property that I no longer con make payments on. If the owner forcloses will I be responsible for his legal costs of forclosure?

Question

I bought property that I no longer con make payments on. If the owner forcloses will I be responsible for his legal costs of forclosure?



Answer

Read your note and mortgage. Probably yes.



Answer

I agree with David. Both usually require the borrower pay all legal fees whenever there is a default in payment.



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