Why QWR letter? - Loan Modification Forum

miked2023 · 06-25-2009, 10:39 AM

I am about to propose a hefty loan mod to BofA/CW and I'm wondering why I should send a Qualified Written Request first? I'm just not sure what I would do with it or how if would affect the outcome. I'm currently three months behind, willing to go all the way to foreclorure if I must so could someone please explain how this factors in? My loan is set to adjust in December and I don't think it's predatory although I 'm sure I could have someone find something wrong with it. Just not sure how or why that will matter. Is it just meant to get the ball rolling in a timely professional manner? Letting them know I'm serious? I'm just unsure how the outcome of these items can or will have an effect on anything. Thanks!

Evan Bedard · 06-25-2009, 01:25 PM

Hi Miked2023,

A QWR is a request to the lender for either your original loan documents or to request for a loan modification. I suggest you contact BofA and let them know your applying for a mod and they will most likely ask you to fax hardship, paystubs, bank statements, etc..

miked2023 · 06-25-2009, 01:27 PM

OK cool - so in my situation, I probably don't need to send a QWR, yes? Thanks.

Evan Bedard · 06-25-2009, 01:38 PM

Yeah most people who send them want their original loan documents to maybe try and find some violations. But in your case you should contact them right away and request a loan modification and see which one you might qualify for.

miked2023 · 06-25-2009, 01:47 PM

thanks much! HERE WE GO!!!!

Evan Bedard · 06-25-2009, 01:50 PM

Good luck and make sure you stay in consistent contact with BofA, I would suggest once or twice a week at the least. Keep us posted on your progress!

06-25-2009, 10:39 AM	#1 (permalink)
miked2023 Senior Member Join Date: Mar 2009 Posts: 48 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Why QWR letter? I am about to propose a hefty loan mod to BofA/CW and I'm wondering why I should send a Qualified Written Request first? I'm just not sure what I would do with it or how if would affect the outcome. I'm currently three months behind, willing to go all the way to foreclorure if I must so could someone please explain how this factors in? My loan is set to adjust in December and I don't think it's predatory although I 'm sure I could have someone find something wrong with it. Just not sure how or why that will matter. Is it just meant to get the ball rolling in a timely professional manner? Letting them know I'm serious? I'm just unsure how the outcome of these items can or will have an effect on anything. Thanks!

06-25-2009, 01:25 PM	#2 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Why QWR letter? Hi Miked2023, A QWR is a request to the lender for either your original loan documents or to request for a loan modification. I suggest you contact BofA and let them know your applying for a mod and they will most likely ask you to fax hardship, paystubs, bank statements, etc.. __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

06-25-2009, 01:27 PM	#3 (permalink)
miked2023 Senior Member Join Date: Mar 2009 Posts: 48 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Why QWR letter? OK cool - so in my situation, I probably don't need to send a QWR, yes? Thanks.

06-25-2009, 01:38 PM	#4 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Why QWR letter? Yeah most people who send them want their original loan documents to maybe try and find some violations. But in your case you should contact them right away and request a loan modification and see which one you might qualify for. __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

06-25-2009, 01:47 PM	#5 (permalink)
miked2023 Senior Member Join Date: Mar 2009 Posts: 48 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Why QWR letter? thanks much! HERE WE GO!!!!

06-25-2009, 01:50 PM	#6 (permalink)
Evan Bedard LoanSafe.org Homeowner Guide Join Date: Aug 2007 Location: Southern California Posts: 2,168 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: Why QWR letter? Good luck and make sure you stay in consistent contact with BofA, I would suggest once or twice a week at the least. Keep us posted on your progress! __________________ Keep Fighting! Evan Bedard LoanSafe.org Support Team Please donate via paypal to LoanSafe.org to help keep this forum going The comments by me and the materials available at this web site are for informational purposes only and not for the purpose of providing legal advice. Most of the information you find here is easily available on the internet. You should contact your attorney to obtain advice with respect to any particular issue or problem. The opinions expressed at or through this site are the opinions of the individual author and may not reflect the opinions of the firm or any individual attorney. Please Read our Privacy Policy and Legal Disclaimer Here.

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