Insure Me ADVERTISEMENT
Help, Advice, Community for people facing today's financial challenges.
Know your options - be a BetterBorrower.
ADVERTISEMENT
ADVERTISEMENT
My Lender Won't Return My Calls

Contrary to popular belief, lenders really don’t want to rush homeowners into foreclosure or take their homes. They are far better off when they can find a way to keep people in homes with some form of workable mortgage.   
Unfortunately, millions of Americans are having difficulty making their mortgage payments right now and the volume of calls to lenders has increased dramatically,  If you really want to keep your home, you will need to be persistent and fight hard to get through to a mortgage representative who can help you.  Don’t be afraid to ask to speak to the manager.  And, be sure to arm yourself with good information before you call.  Know what options are out there.  Know the “magic words” that will be understood by the lender and indicate to them you know what you’re talking about. 
If, in spite of your best efforts, you are still unable to get your lender to respond, you may be able to influence them – and buy yourself some time – by sending a complaint letter. Click here for a database of lenders, public officials, and regulators who may be able to intercede on your behalf. And click here  for a Sample Letter.  Believe me, the sheer size of the mortgage delinquency problem is so great, it’s caught the eyes (and in-boxes) of elected and appointed officials all over the country! 
But don’t stop with a complaint letter!  Don’t wait for your lender to respond – especially if you are facing foreclosure.  Time is of the essence! If you can’t get through to your lender, call somebody else. Click here for a list of lenders on our website who are actively working with distressed borrowers. You can also find lenders on the HUD website, http://portal.hud.gov. Go to Hope for Homeowners, located down the left side of the screen, and then Lender Locator.  
You could also try calling Hope Now, an alliance of counselors and other mortgage industry participants who are working together to help homeowners stay in their homes. You can reach Hope Now by calling 1-800-995-HOPE or emailing them at www.hopenow.com. They may be able to refer you to a lender who can help.
And last, let us know about your experience!  Go to Say It Here and tell the world which lenders were nice, and which ones were just plain nasty to work with.

 

Category:
ADVERTISEMENT

What they're saying... Wise words on money, foreclosure and credit from our featured columnists.


Read

Who’s to blame for the foreclosure crisis?






See our Terms of Use All information is made available as a resource and is not intended to provide individual advice. We do not guarantee the accuracy or applicability of the information or tools. All information and examples are hypothetical and for illustrative purposes only. We encourage you to seek advice from qualified professionals.
 
No Paws Left Behind Banner ADVERTISEMENT
Copyright 2009. Better Borrowers, Inc. All rights reserved.