How to Delay a Mortgage with a QWR

You have a right to a timely and thorough response to your written inquiries. Banks wish you never heard of a Qualified Written Request (QWR). Under Section 6 of RESPA is a requirement that lenders must acknowledge your inquiry within 20 days and respond thoroughly to your inquiries within 60 days. This request for a modification, there is a way to hold their feet to the fire. By sending a qualified written requestsuch as your hardship letter, request for additional concessions and request for itemization of feesyou force the banks to respond in a timely manner. This gets you priority in an overworked or understaffed loss mitigation department.

The man who foreclosed on Bank of America

The Daily Show With Jon Stewart	Mon - Thurs 11p / 10c
The Forecloser
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John Oliver of comedy central's "The Daily Show" filed a report on how the Bank of America foreclosed on a couple that had paid cash for their house. This Florida couple never had a mortgage let alone a home loan with Bank of America. Nonetheless, the bank foreclosed on the couple.

After they dealt with the issue at some level of expense, the married couple hired a rookie lawyer to try and get their money back from the North Carolina financial institution. The bank ignored their requests for months, so the couple foreclosed on their local BoA branch, hired a moving a company and went to the location with a Sheriff to foreclose and confiscate the banks furniture and other assets to get the value of their judgement.

Needless to say, after a few phone calls BoA cut the couple a check. While this skit has a lot of laughs, the story is all still true.