I have a case where the bank's attorneys have fees of over $20,000.00. This is a mortgage on estate property and the executor tried to make the mortgage payments but they were refused because it was not an "assumable mortgage". Also, whenever reinstatement was discussed with the executor and two other attorneys, the bank made reinstatement conditined upon payment of substantial attorneys fees. The new statute precludes the assessment of attorneys fees before accelleration and 90 days thereafter. I brought a wrongful foreclosure suit for the executor and asked for a TRO. The judge said we had to pay $24,000 into court. That would be $9,000 in backed up payments and $15,000 in fees. I should say that the mortgage balance is $24,000.
Anyone think $20,000 in attorneys fees is reasonable? Most of the time is spent on emails to the bank and office conferences.
Submitted by Worcester lawyer on Wed, 02/18/2009 - 10:15
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