Re: Mortgage Problem

Posted by observer (152.163.189.170) on July 14, 2002 at 23:59:21:

In Reply to: Re: Mortgage Problem posted by Jo on July 14, 2002 at 23:00:57:

Jo,

Do a "google search" using the term "real estate settlement procedures act". About the 3rd selection you will see a listing with that title. Begin to read. Eventually, you will come to something called Section 6 that deals with loan servicers. You must protest in writing. I would suggest mailing the letter CRRR. Within 20 days, the loan servicer must acknowledge receipt of the letter. Within 60 days they must either correct the problem or, give a written statement of their position.
The act also has provisions for private lawsuits against servicers who refuse to comply. So, you are not exactly defenseless but, this won't help much if you lose your house to foreclosure. There is another old saying among bankers when dealing with mortgages. "If you don't pay, you don't stay". Again, good luck!

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