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Barrister
Barrister, Attorney
Category: Legal
Satisfied Customers: 33716
Experience:  15 yrs practice, Civil, Criminal, Domestic, Realtor, Landlord 26 yrs
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Is it legal for the holder of a deed of trust to demand late

Customer Question

Is it legal for the holder of a deed of trust to demand late payments after all payments have been made without notifying at any time that late payments were applied?
JA: Since estate law varies from place to place, can you tell me what state this is in?
Customer: Nebraska
JA: Has anything been filed or reported?
Customer: No-I made the last payment and then heard that there were so many late payments and those fees were due
JA: Anything else you want the lawyer to know before I connect you?
Customer: nope
Submitted: 18 days ago.
Category: Legal
Expert:  Barrister replied 18 days ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney who will try my very best to help with your situation or get you to someone who can. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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Was it disclosed in the loan agreement that late fees would be charged?.

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Were some of the payments actually late and paid without the late fees?

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How old are the late fee charges?

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thanks

Barrister

Customer: replied 18 days ago.
it was disclosed
Yes, there were payments paid late without the fees (all accepted)
Not sure how late-allpayments made on a 10 year note-then called today to say I now owe all the late fees
Expert:  Barrister replied 18 days ago.

Ok, if the fees were disclosed and agreed to by the borrower when taking out the loan, and they did in fact have late payments where the fees were not included, then the lender would have legal grounds to demand them before releasing the loan.

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However, if a late fee was over 5 years old, then it would be unenforceable under NE law as the statute of limitations is only 5 years for a breach of contract action. So anything older than 5 years would be unenforceable.

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thanks

Barrister

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