How to force your mortgage lender to respond to your problem

Posted July 2nd, 2009 by Mike Scott

This little trick forces a mortgage lender to respond quickly.

If you are having trouble getting a response from your mortgage servicer (the people you send your mortgage payment to) you may need to try sending an old fashioned letter. Not just any letter however, but a RESPA "qualified written request" letter. Under federal law (12 USC 2605e). Within 20 days of receiving a written correspondence a loan servicer must acknowledge receipt of the letter and within 60 days must take such action as appropriate, meaning that they either have to correct your account, respond to your inquiry, or provide you with a written explanation as to why they are not going to answer your inquiry or take any action.

The key to sending this letter is that it has to be considered a qualified written request. A qualified written request is a written correspondence that includes the borrower's name, the borrower's account number, and a statement detailing either the information sought or giving the reasons for believing the account is in error.

For help constructing the letter see our template.

Filed Under

Money & Privacy Affordable Housing - Foreclosure - Banking, Finance, & Credit Cards -

Tags: Mortgage - Mortgage Lender - RESPA -

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