Wednesday, February 17, 2010

Why is Loan Forensic Audit Important to your Loan Modification?

Why is Loan Forensic Audit Important to your Loan Modification?

Experts Agree…4 out of 5 Mortgage Loans Contain Serious State and Federal

Our own internal data and experience agrees with this expert assessment. Loans made in the boom loan years of 2000-2006 often have a great deal of RESPA (Real Estate Settlement and Procedures Act) and TILA (Truth in Lending Act) violations as well as a host of other state and federal law violations.

What do RESPA and LITA violations do for you?

Well the loan may in rare cases be considered nullified and many cases it can stop foreclosure procedures and other legal procedures against you as the loan cannot be enforced due to the violations. They may even have to refund you the interest they have charged you for the loan. Loans with these violations are not enforceable and the banks know it so you will have a great deal bargaining power when you discover these infractions. Now these are not just state laws these are federal laws which supersede state laws in many cases and are always enforceable in federal court. Since these are federal loan laws, you are very well protected by these laws anywhere in the United States and your own state may have additional laws that protect you further.

What sorts of loan Violations are possible?

  • Anything from you not being informed of something to not having the proper stamps or the proper signatures. Not having the correct disclosures, not having the correct procedures and notices and much more. Why are these violations important? Because if the bank or the loan broker mislead you in any way they cannot enforce the loan in court. These laws are there to protect you but to date mostly the banking world knew about them and policed them. Now with our services you can have your loans forensically audited by a loan professional that knows what is required and receive a detailed report of the errors and some suggestions as to how to use them in your negotiation if you decide to battle the banks on your own. Loan forensic audits are an integral part of our full suite of services and are always performed as part of our loan modification process. But now, through our loan forensic service you can gain our insight for a fraction of our full service cost and get expert advice on what to do with your loan violations when we find them.
    There are many state and federal acts that can be violated including but not limited to:
  • Truth in Lending (TILA)
  • State and Federal Preditory Lending Laws
  • Fair Housing Act (FHA)
  • Real Estate Settlement and Procedures Act (RESPA)
  • Equal Credit Opportunity Act (ECOA)
  • Home Mortagage Disclosure Act (HMCD)

Why would we use your independent loan forensic audit services?

  • If you need assistance with your loan modification battle but feel you can do the negotiations yourself, you can use just our loan forensic review service to gain the bank insider knowledge that you cannot easily find on your own and still save money battling the banks on your own. The difference is that with our forensic loan analysis service you will have the guns to make the bank be in a weak bargaining position if errors are found on your loan. For just $799 for your first loan (if you have more than one loan then each additional loan will only cost $500 each) you will receive:
  • A complete loan forensic audit of your loan
  • A report showing each infraction and a short explanation of why they are infractions and from which act
  • A set of specific recommendations for actions you can take to resolve the loan modification using these loan violations as a weapon.

Why would the bank listen to me when I tell them of the infractions?

The law requires them to address your complains. Also, if they bring action against you, the proven infractions can delay if not completely stall the litigation against you since illegal terms and conditions are not enforceable nor are foreclosure procedures resulting from illegal loans. Its that simple, the law clearly gives you these rights and the courts will enforce them for you! If you cannot afford our full service loan modification program or prefer to do the loan modification for your home on your own, our expert forensic loan examination will give you the upper hand with your loan audit against the bank or lending institution. For as little as $500 per loan you can gain a weapon that can potentially save thousands of dollars.