QWR stands for Qualified Written Request. It’s writing sent by homeowners to their lenders to obtain information about your account, lodge complaints, and also to bring the attention of your lender to issues on your account. If you notice any form of error on your account such as miscalculation, you can put it in writing and send it to your lender.
How can I use QWR?
You can use QWR to stop foreclosure directly but it can help you indirectly. If you have found some errors in your account or you notice confusing information, you can bring this to the notice of your lender nu writing a QWR. You should note that QWR is sent to a specific address, if you do not already know the address, you can request for it from your lender.
If the issue you notify your lender has to do with why your home is being foreclosed but also shows your lender’s errors, the will have to stop the foreclosure proceedings to review the matter. Therefore, you should only send a QWR if you are sure it points to some errors on the part of your lender and that’s when it can help you stop foreclosure.
Your lender is authorized to respond within 5 business days and if they do not respond but end up selling your home, you can file a lawsuit against them. Provided the error you point out was justified by the court, you will not only have your home back but you will also be entitled to damage charges of up to $1000 or more. It’s always good when you know your rights and also know how you can implement them. However, you might need to hire a lawyer to help you out with filing a lawsuit and also representing you.
Provided you have legitimate defenses, you will win the case and probably go home with some cash.
For information on foreclosure defense call us at (877) 399 2995. We offer litigation document review support, mortgage audit reports, securitization audit reports, affidavit of expert witness notarized, and more.