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Dimitry K., Esq.
Dimitry K., Esq., Attorney
Category: Legal
Satisfied Customers: 41220
Experience:  Multiple jurisdictions, specialize in business/contract disputes, estate creation and administration.
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My property was foreclosed on May 6, 2013. There was competive

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My property was foreclosed on May 6, 2013. There was competive bidding at the sale and an overage of over $70,000.00. That ithe good news. However, the lender is telling me that they are charging 15% statutory at try's fees which is approx $15,000.00. The foreclosure atty has advised me that he is only charging $2,000.00, and the lender is keeping the difference. Can the lender charge more than the actual attys fees?
Thank you for your question. Please allow me to assist you with your concerns.

To answer directly, the answer is 'no'. Only ACTUAL fees can be withheld, not statutory limits, as that then permits the lender to essentially double-dip. The lender is limited from obtaining his actual expenses from the sale, the actual costs of the auction, and the actual difference between their owed amount and the overage. Anything else above it is against state law as it would be considered to be 'unjust enrichment' on the part of the lender.

Good luck.
Dimitry K., Esq. and 6 other Legal Specialists are ready to help you
Customer: replied 3 years ago.
I forgot to mention the foreclosure took place in Ga. Can you please provide me with any case law substantiating your response?
Jeff,

I apologize but using legal databases is more expensive than the value of the question that you posed. I really cannot conduct such extensive review for you. I did, however, find this listing of allowable fees for Fannie Mae foreclosure costs:

https://www.fanniemae.com/content/guide_exhibit/allowable-attorney-trustee-foreclosure-fees.pdf

Here is another third party listing likewise listing the same amounts for the foreclosure cost:

http://www.jflegal.com/index.php/faq3

Good luck.