Respa Request!
Does anyone know if the California courts really respect this when a home is about to go into foreclosure?
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Under the Real Estate and Settlement Procedures Act (RESPA)What a homeowner can do under RESPA is request in writing what is called a “Qualified Written Request (QWR). In this letter you can as about all questionable fees, entries, documentation and a life of loan history (all fees and payments ever made on your mortgage) from your lender.
Within 20 business days of receiving your letter, your mortgage servicer must send you a written response acknowledging it. Your servicer the has 60 business days, to correct your account or determine that it is accurate. Your servicer must then send you a wriiten response of the action it took and why, along with the name and telephone number of someone you can contact for additional assistance.
This is a “law” and yes, anyone or any company can refuse to cooperate or compy with this law.
The big question is, “What are you willing to do about it?”
What CAN be done about it if they don’t reply? Recent posts on the forum by Faith seem to indicate that lenders have the upper hand and can even charge the mortgage holder a fee to process the request. Is this true?
Go to The Federal Trade Commission’s website and complete an online complaint. Firnish all the dates, names etc as accurately as you can.
Go to HUD’s website and do the same thing.