Dealing with Mortgage Cos

Many of the deals that his firm has arranged have initial interest rates in the 3 percent range.

Using what is known as a qualified written request under Section 6 of Respa, LoanSafe also asks the servicers whose loans it is examining to detail the amounts owed by a borrower as well as asking it to justify all fees.

“Magically, when we do that, we will get an offer of a modification and those fees often go away,” Mr. Bedard says.

Because servicers must answer such requests within 60 days, Mr. Bedard suggests that all borrowers make them. (A sample letter is on the Web site of the Department of Housing and Urban Development, at


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