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What If My Lender Is Wrong?
Question: I do not think my lender has properly credited payments. How do I check?
Answer: Send the lender a letter, by certified mail with a return receipt, requesting the account history. Include the account number. State that under RESPA you have filed a "qualified written request" for information. The lender now has 60 days to answer your inquiry. Be certain to keep a copy of your letter, the postal receipt, and the postal return card if needed to press a claim. Note that most lenders will respond quickly to any concerns regarding account accuracy. Resolving such problems is far better than class-action lawsuits and regulatory problems.
Written by Peter G. Miller.
© 1997 Peter G. Miller. All Rights Reserved. Rules, Disclaimers & Notices.
Copyright © 2012 Realty Times. All Rights Reserved.
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