What can I do when my mortgage company makes an error?
Please Note! If the mortgage company’s error has caused a foreclosure to be scheduled do not wait to contact an attorney! You must act quickly to see what your options are for stopping the foreclosure!
Are you in a situation where your mortgage company has made a mistake? Maybe they didn’t credit a payment you made, or perhaps your escrow balance is wrong. You’ve called and called and no one seems to be taking this seriously or trying to help. What can you do?
One option is to mail your mortgage company a Qualified Written Request. A Qualified Written Request is a letter that a law called RESPA says you can use to get your mortgage company to review errors and make corrections. You can find the law here under section e.
In your Qualified Written Request you need to list your name, property address, account number, and list what is wrong and needs fixed with your account. A sample Qualified Written Request can be found on the National Consumer Law Center’s website, here.
There should be an address on your mortgage statement where your mortgage company wants you to mail the Qualified Written Request. Send it by certified mail with a return receipt requested. Keep a copy of the letter you send, your original certified mail receipt, and the original signed return receipt when it gets mailed back to you.
Your mortgage company is required to acknowledge receipt of your Qualified Written Request within 5 days, and is required to respond to your letter within 30 business days. The mortgage company that fails to do this may be liable for damages as outlined in section (f) of the link above.
If you send a Qualified Written Request and do not get a response, contact an attorney for advice on how to move forward. I also help people by sending the Qualified Written Requests for them, and getting their mortgage errors corrected. If you think you need a Qualified Written Request and want some help or guidance with it, give me a call!