Many homeowners are being treated unfairly by their lenders. Many you’re one of them. Have you noticed any error from your lender that contribute or lead to your home being foreclosed? A qualified written request (QWR) is a way to let them know of their errors and stop the foreclosure process. There has been much hype about writing QWR to your lender. It is true you can stop a foreclosure process with it. However, if the errors stated do not contribute to your home being foreclosed, it will be dismissed. Qualified Written Request can also be used to ask your lender for clarity on your account’s state. Perhaps, you don’t understand the changes in the last statement sent to you; you can write a request to your lender to explain.

A Qualified Written Request must be written in simple language, and the tone must be formal. It would be best if you were as brief as possible and also go straight to the point. Let your lender know why you wrote the letter from the first paragraph. If you feel your request is important but want not treated as such, you can file a lawsuit against your lender. Your lender is mandated by the law to acknowledge your request within a week and reply within a month. If your lender did not respond and file a lawsuit against them, significant consequences are awaiting them. Suppose your request was found to be essential or has to do with accounting errors of any kind, your lender will have to pay you for damages. Depending on the situation at hand, you can get up to $2000 in actual damage and stop foreclosure at the same time.

The Qualified Written Request must be sent to a specific address. You can inquire of your lender to know which address you should forward your request. You can’t sue your lender or blame them for not responding if you sent the request to the wrong address.