Letter to your mortgage servicer.

[jojo208]

i m agree with you many forums have only doubt nothing more lolz

[Patz]

Originally Posted by jojo208

Will this do anything for someone who is already in foreclosure?

Well, it certainly cannot HURT you. The point is to prepare your QWR so that it represents YOUR situation and YOUR mortgage loan. Do not use the letter presented here word for word. Some of the items requested in that letter might not even apply to you.

I can assure you that your lender has probably added in some fees and charges (through the years) that are bogus. If for no other reason, you want to be certain they are only paid what is really owed.

I sent several QWRs. My lender responded and I found a host of instances of abusive servicing from 10 years earlier. I was amazed.

Frankly, I advise ANYONE who has a mortgage should request detailed financials about their account via a QWR at least every 5 years. My lender, Cenlar, is just a bunch of crooks. They don't even know the rules and regulations. They are so incompetent that they sent me a letter and quoted HUD guidelines that were flat out wrong - what they quoted had been revised 15 months before. I have a big pile of evidence like this. I'm going to hold onto it so I can bring it up in court or at any time when I need an ace in the hole.

What you get back from your QWR will boggle your mind - especially if the lender foreclosed.

So send it. Use certified mail with return receipt.

BY the way, the guidelines have changed effective July 21, 2010. Your lender must now acknowledge receipt of your QWR within 5 days. The Act also changes the substantive response deadline from 60 days to just 30 days. It does allow a 15-day extension, if the borrower is notified of the extension and the reasons for the delay.

Good luck.

[fatherof3]

Does this letter work for commercial mortgage also?

Thanks

[Seadragon]

I checked into it.

Your friendly "Hometown Bank" and their unethical tactics

[Patz]

Originally Posted by Patz

Well, it certainly cannot HURT you. The point is to prepare your QWR so that it represents YOUR situation and YOUR mortgage loan. Do not use the letter presented here word for word. Some of the items requested in that letter might not even apply to you.

I can assure you that your lender has probably added in some fees and charges (through the years) that are bogus. If for no other reason, you want to be certain they are only paid what is really owed.

I sent several QWRs. My lender responded and I found a host of instances of abusive servicing from 10 years earlier. I was amazed.

Frankly, I advise ANYONE who has a mortgage should request detailed financials about their account via a QWR at least every 5 years. My lender, Cenlar, is just a bunch of crooks. They don't even know the rules and regulations. They are so incompetent that they sent me a letter and quoted HUD guidelines that were flat out wrong - what they quoted had been revised 15 months before. I have a big pile of evidence like this. I'm going to hold onto it so I can bring it up in court or at any time when I need an ace in the hole.

What you get back from your QWR will boggle your mind - especially if the lender foreclosed.

So send it. Use certified mail with return receipt.

BY the way, the guidelines have changed effective July 21, 2010. Your lender must now acknowledge receipt of your QWR within 5 days. The Act also changes the substantive response deadline from 60 days to just 30 days. It does allow a 15-day extension, if the borrower is notified of the extension and the reasons for the delay.

Good luck.

I want to make a correction to my statement above about the change effective July 21, 2010.

This was a proposed change that was passed under the Dodd-Frank Act. However, it has yet to be implemented. The legal environment can be so confusing sometimes.

[shelpster]

Lets say you already lost your house, would sending this letter help get rid of the credit reporting?

[dckumar99]

I have been trying to get my loan modify with B of A for the last 2 yrs and have gone thru 4 account managers, with no luck. I am in what they call a "foreclosure hold". They will not accept my monthly payments, until a decision is made, I am sure I am increasing my default amount.

I feel as this letter seems to have come at the right time.

Thanks and will appreciate any additional advise.

Dipak

[aaliasmith]

As you said that they hold your foreclosure ,some lenders are keeping there foreclosures off the market for 6 moths or longer. They do not want to flood the market with excess foreclosures and push the price of market down . So keep everything in mind and go ahead .