YOU ASK:

How to write a dispute letter to a mortgage company about insurance?

WE ANSWER:

Sometimes you need to write a dispute letter to a mortgage company when there are inaccuracies with regards to your insurance coverage, the premiums you have paid and other issues related to your mortgage insurance.

There may also be times when the mortgage company refuses to cancel the insurance, even when you have already satisfied the conditions that make it possible for you to do away with it. There may also be delays where the mortgage company does not release the check they have received from the insurance company within the allotted time frame.

When writing a dispute letter, remember the following:

  • Provide proof in terms of documentations or computations. This way, you can show the factual basis of your dispute and give a more strong argument saying that a mistake has been made.
  • Fight for what you think is right. Don't let the mortgage company go away with it. Sometimes the savings you will incur will be substantial and worth the act of writing a dispute letter.
  • Be prompt. Don't wait for the problem to balloon out of proportion. Write the letter as soon as you have noticed the dispute.
  • Know whom to address your complaint. Ask who is in charge of your account in the mortgage company to know who exactly to contact.
  • Everything should be in writing. If you have already called the mortgage company about the problem, record the gist of the conversation, so that if you have to refer back to it, you have some notes.
  • Send the letter by registered mail and keep the receipt. This way, you have proof that they have received your letter, as well as the date when they received it.
  • Make sure your letter is clear and to the point.
  • Call in "reinforcements" if they refuse to act. This may come in the form of a threat that you will file a complaint against them in the right forum (such as the Better Business Bureau) or that you will hire an attorney. But of course, don't go overboard with this.
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