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Working on a loan modification, send in a qwr, dispute your loan balance get histor Options to try

It is important to know about the new Federal Trade Commission guidelines approved for  (MARS.FTC)    Mortgage Assistance Relief Services.  Any one offering to do a modification stop a foreclosure.  

Realtors can not do loan modificaitons unless they have a bond $100,000 I believe)  they can not charge any fee unless and untill you get a permanent loan mod you approve of.

Only attorneys who practice law, their office is in the same state as either the home or where the owner lives, has exceptions to this rule.

 Attorneys now can charge a fee only after contracted service has been performed.  This way you know your file was completed because you see a copy before paying, then it is submitted to your servicer.  The attorney can charge for fees as they are done but they have to meet the exception. .

1 You have to send a Qualified Written Request based on Respa Dodd Frank Tila.  Dodd Frank shortens the time allowed for the servicer to respond. 

Dispute your balance, upon receiving your notice of acceleration send in a dispute asap based on FDCPA, FCRA, .  Do it..certified mail. .  

You should also pull a copy of your credit report and keep it. send a dispute to them as well.  The servicer has to report you to the cra 100% accurate,  ****If you disputed your balance with your servicer and you pull your credit 4 months later and the servicer did not say the loan was disputed they may be in violation of FCRA.  This is important information to follow gather. 

***Not legal advice, education purposes only.   highly suggest retaining a Real Estate Attorney who has succesfully stopped foreclosure sales and obtained modifications.   For bankruptcy you want to know if they can litigate. 
  • January 13 2012 - US
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