Mortgage Payment Posted Wrong?

Was your mortgage payment erroneously reported as late?  If so, then you’ll be pleased to learn that mortgage credit repair has a powerful tool and it’s called the “Qualified Written Request”.  Send a “Qualified Written Request” to your mortgage company and upon receipt, it must stop reporting the alleged past due payment to the CRA for a period of sixty days.  Specifically Section 6 of RESPA (12 USC Section 2605) states the following:

“During the 60-day period beginning on the date of the servicer’s receipt from any borrower of a qualified written request relating to a dispute regarding the borrower’s payments, a servicer may not provide information regarding any overdue payment, owed by such borrower and relating to such period or qualified written request, to any consumer reporting agency (as such term is defined under section 1681a of title 15)”

A “Qualified Written Request” should be sent (certified mail return receipt requested) to the customer service address of your mortgage company.  Do not send it with your monthly payment.  Also, sending the “Qualified Written Request” does not entitle you to stop making mortgage payments – continue to make your monthly payments on-time during the investigation period.

The following sample format for a “Qualified Written Request” has been provided by the Department of Housing and Urban Development (hud.gov/offices/hsg/sfh/res/reslettr.cfm).

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Attention Customer Service:

Subject: [Your loan number]
[Names on loan documents]
[Property and/or mailing address]

This is a “qualified written request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA).

I am writing because:

• Describe the issue or the question you have and/or what action you believe the lender should take.
• Attach copies of any related written materials.
• Describe any conversations with customer service regarding the issue and to whom you spoke.
• Describe any previous steps you have taken or attempts to resolve the issue.
• List a day time telephone number in case a customer service representative wishes to contact you.

I understand that under Section 6 of RESPA you are required to acknowledge my request within 20 business days and must try to resolve the issue within 60 business days.

Sincerely,

[Your name]