Help with Loan MOdification Terms (HARP)

[lf5058]

WE took out a mortgage with a local bank but it was sold to US Bank. I was leery of the buttons have to press to talk to someone or the paperwork gets shuffled around nameless people at different departments. But, when I have to contact them recently, it was quite a breeze, I just sent an online message and got an email reply a day later and also a snail mail reply to my inquiry a few days later. The procedure to get rid of the PMI was clearly spelled out and we did exactly that, got rid of the PMI a few weeks later.

 

[marysia]

RESPA requires that a bank acknowledges your "qualified written request" (complaint, inquiry) within twenty days and resolve it within 60 days. Here is an example of what would be considered a qualified written request:

http://portal.hud.gov/hudportal/HUD?src=/program_offices/housing/ramh/res/reslettr

If you are not getting a response to your inquiry file a complaint (CFPB, FRB, OCC, state attorney) they are taken very seriously, especially in the current environment where every agency wants to punish the banks.