Wells Fargo, internal changes began reporting $0 balance on CR, when balance is 55K, would RESPA letter be any good?

[farrier 0]

Methus posted this awsome RESPA letter in conciderations of dealing with your mortgage broker. I'm not tooo familiar with RESPA. I just know that if they don't respond, there is reson for relief.

 

 http://www.creditinfocenter.com/community/topic/280456-letter-to-your-mortgage-servicer/ 

 

So, I was wondering if this would be of good use for my aunt and uncle. They are trying to get credit up to buy a new home closer to family, but they have a mortgage. Wells Fargo is the carrier on this mortgage. They, WF, recently appeared to undergo an "internal" overhaul of some sort...

 

Long story short, the morgage they have under Well's Fargo now reports $0... an absolute zero balance, on a mortgage of aproximately $55,000 principle. So my uncle called WF, and they said it was some kind of internal adjustment and that it shouldn't have affected him, or his credit report at all.

 

WF told my uncle that he would have to send a copy of each of his CRs that it is reporting incorrectly to (all three CRAs) if he wanted WF to do anything about it at all.

 

So, I'm thinking of writing WF with Methus's nice letter, and then requesting verification on the $0 balance in some way, to each CRA. However, I'm wondering if I shouldn;t wait out the 60 days response from WF before sending in the verification?

 

Is there anything else that can be done, in relation to the fact they are reporting the balance as $0?

[WhoCares1000 683]

I would start the FCRA process and send a letter to each of the CRAs requesting that they correct the error. If WF comes back as verified, then a RESPA would be in order. This will give you and your aunt and uncle time to research what RESPA is and how it works for your situation as well and consult with a real estate attorney or 2.