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The Top Ways to Avoid Mortgage Lender Runaround

Your relationship with your mortgage lender does not end after your mortgage is secured. If you are getting the runaround from your lender, there are ways you can get straight answers. The law requires response from your lender within 30 days from all written correspondences. Therefore, always send your questions in written format instead of calling on the phone. If you aren’t getting clear responses from customer service reps, request to speak to a supervisor or manager.

Key Takeaways:

  • The moment a borrower secure a mortgage, a relationship with the lender than could even last up to 30 years has just begun.
  • The author suggests a lot of ways to go around the runaround that some lenders will likely give that makes have stress and worry about their home status.
  • The law protects the lender in many cases. It is essential that they make their request in writing and not on the phone and that the lender responds.

“A lot of the rules that lenders must follow has to do with how they handle your money. One of the largest rules is how long they hold onto your money. If you do everything right, they must post your payment to your account right away.”

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