Stop Foreclosure Due To Mortgage Violaton.  There are plenty of ways to stop foreclosure for clients, one is by requesting a QWR "Qualified Written Request" based on Section 6 of Respa.

Section 6
Section 6 of RESPA provides borrowers with consumer protections relating to the servicing of their loans. If a borrower sends a "qualified written request" to his loan servicer concerning the servicing of the loan, the servicer must provide a written acknowledgment within 20 business days of receipt of the request. Not later than 60 business days after receiving the request, the servicer must make any appropriate corrections to the borrower's account, and must provide a written clarification regarding any dispute. During this 60-day period, the servicer may not provide information to a consumer reporting agency concerning any overdue payment related to such period or qualified written request.

Section 6 of RESPA also provides for damages and costs for individuals or classes of individuals in circumstances where servicers are shown to have violated the requirement of that Section.

 

If your client is in foreclosure and has been a victim of predatory lending the first steps you should take is submitting a Qualified Written Request to The Lender on Behalf of your client.

 

4 Comments on Consumer Loan Protection - Violations of Respa - Foreclosure Assistance

FEB
26
2008
great post.  I think quite a few people are in a short sale due to liar loans and could use this to stall the process.
J G
1:01am • #1
I don't like think of it as Liar Loans, I just think it was greed and lack of responsibility by lenders and of course homeowners.
1:03am • #2
MAR
04
2008
NOV
26

I have heard of the RESPA Act from a friend.  In the event that there is a gross error in the processing of the loan (in my case the HUD 1 calculated my tax incorrectly), once the error is corrected, am I in trouble with my loan again.  In other words, is this a temporary fix until they correct their error?

RESPA
5:05pm • #6

Leave a response…



(optional)
What does the graphic say?
 
Rainmaker_large

Jamar James

Phoenix, AZ

More about me…

Jamar James, PLLC

Address: 4531 N 16th St , Suite 114, Phoenix, AZ, 85016

Office Phone: (602) 710-2490

Cell Phone: (623) 385-7529

Email Me

Stop Your Foreclosure in Arizona, Phoenix Foreclosure Specialist, Acquire Arizona Distressed Properties, Distressed Sellers, Arizona Homes. Real Estate For Dummies in Arizona. Phoenix Investment. Phoenix Real Estate Deals. Phoenix distressed sellers. Foreclosure Consulting. Purchase Homes No Money Down in Arizona. Investor Only in Arizona.


Links

Archives

RSS 2.0 Feed for this blog

Find AZ real estate agents and Phoenix real estate on ActiveRain.