Many homeowners fighting to save their home from foreclosure are often stuck in a frustrating tangle with home mortgage servicing companies. Many homeowners facing foreclosure get lost in a maze of call waiting, serial transfers and even “unintentional” disconnects while attempting to modify their mortgages. Here are a few tips for handling mortgage servicing companies:
Tip #1 – Keep meticulous records of all communication you have with mortgage servicing companies when trying to modify your mortgage to avoid foreclosure. That includes hang-ups, transfers and how long you were left on hold. Also, record times, dates and the names of all the people you spoke to.
Tip #2 – If you have a dispute and want to see records pertaining to you account, you can request a hard copy of your account information; but it must be done IN WRITING. The Real Estate Settlement Procedure Act requires that mortgage servicers provide written information on your account if you make a request for that information in writing. This could be particularly helpful to those facing foreclosure who may have payment history disputes.
Tip #3 – Get all promises made by your mortgage servicer in writing. That includes promises to modify your mortgage loan, credit a payment to your account, stop a foreclosure proceeding or anything else.