How A Forensic Loan Audit Can Stop Foreclosure
A lot of people got caught up in the sub-prime mortgage drama of the last decade because the market was flourishing and credit was readily accessible to almost any and everybody. Even folks who could not afford a home were rashly buying homes. As the bottom literally fell out of the real estate market with the drastic drops in prices and home values many hard working homeowners have found themselves in financial turmoil and are in desperate need of mortgage modification.
Not everybody qualifies for a mortgage modification. There are a variety of factors that must be analyzed before lenders will agree to modify a loan.
This is how the forensic loan audit comes into play. Homeowners going through possible foreclosure are urged to get a forensic loan audit to be sure that their mortgage was done properly when originated. If however, violations are found the home homeowner may have the grounds for a loan modification case which could halt foreclosure.
A forensic loan audit team is comprised of very qualified finance and legal pros that carry out a meticulous and comprehensive analysis of a homeowners mortgage documents to pinpoint whether any lender violations took place. The team is specifically searching for missing documents, disclosures, and/or misrepresentations in order to build a case and have the loan terms modified. Fortunately (or unfortunately), with over 80% of mortgages originating between years 2002 and 2008 it is not that tough.
Just the point that your mortgage was originated in this time period certainly does not mean that you are going to instantly qualify for loan modification. Banks would argue that it was your mistake that you neglected to read the fine print and or grasped the mortgage terms totally.
The good news is you have consumer protection laws on your side, and if the mortgage violates them, that mortgage is deemed illegal.
A forensic loan audit is an fundamental tool for your legal professional to discover these violations, which essentially might make a difference between losing your home to foreclosure and keeping your family safe and sheltered.
Get a forensic loan audit, and free consultation with America’s best mortgage modification service