Homeowners who want to avoid foreclosure through reinstatement of their loans or a single payment of all owed fees should understand that they have the right to disagree with the total quoted amount owed if they believe it is inaccurate.

Homeowners who are disputing the amount of their reinstatement should immediately notify their lender and legal authorities. Most disputes are initially communicated verbally and then sent in print through a letter. Homeowners dealing with payoff statements are advised to mail their creditor a “notice of error” letter that usually includes personal and mortgage loan account information together with the information regarding the inaccuracy of the total amount. Homeowners may seek legal help if their lender does not respond to or correct the discrepancy within seven working days.

The lawyers at Hong Law, PLC advocate for Cedar Rapids homeowners who are being threatened with foreclosure. If you or a loved one is in such situation, get in touch with our lawyers today by calling (319) 294-5853 to find out how we may be able to help you.