If you are an attorney performing loan modifications then you’ve probably heard this question a few times.
How do you get a fair loan settlement? What do you have to do?
You should know (and you probably do) that there’s not just one thing a homeowner can do to get a fair loan settlement. There are a lot of things he can do and many ways to approach a situation. Every situation, however, is different and calls for a different strategy. As an attorney entering into the loan settlement negotiation role on behalf of homeowners, you’ve got to have more than one weapon at your disposal.
But you want to be sure that one of your weapons is a forensic loan audit. There is probably no tool that a good loan modification attorney can use that will get better results more often. It’s like using a dump truck to poor cement. What else would you use?
Seriously, a loan audit should be your door to the best evidence to use in your client’s favor. A loan document review and audit will uncover which lender violations are the most serious and which ones are the best ones to target for renegotiation. By know that information you can enter loan settlement negotiations from a position of strength.
With 83% of mortgages consisting of some type of lender violation, you’d think there’d be a swarm of loan settlements coming in. But there’s not. That’s because most borrowers aren’t aware of the violations that could get them a refund, a nice size loan settlement, or a modification to their home loan. As their attorney, it is your job to educate them.
Of course, you know that.
But have you considered a forensic loan audit?
The forensic loan audit is your ace in the hole. It’s the one tool that is nearly fail-safe in producing the evidence you need to win your case - and your client a loan settlement. With a forensic loan audit that is thorough and comprehensive, you can be sure that your clients are aware of the disclosures they should have received and know which ones they didn’t. Or if there are other issues such as TILA violations then you can help your client seek the remedy they are due.
As a loan modification attorney, you are the one person who can bring your client, a borrower, into contact with justice and relief from predatory lenders. But you need the right tools and your best tool is the forensic loan audit. It doesn’t lie.
Too many homeowners make the mistake of thinking they couldn’t qualify for a loan settlement if they are not behind on their payments. You don’t have to be behind on your mortgage to get a settlement. If you are in upside down and owe more than your property is worth but have never missed a payment, you could still qualify.
Here’s a simple fact to remember: 83% of all mortgage loans have violations in them.
What that means is you could still qualify for a loan settlement even if you’ve never missed a payment. Even if you have bad credit. And it doesn’t matter whether you have an adjustable rate or a fixed rate loan. What matters is whether your mortgage lender has followed all the applicable laws.
To find out if you can qualify for a loan settlement or if your mortgage has lender violations, contact a qualified loan auditor today.
A loan settlement is a process that involves restructuring debt to make it more affordable for the debtor. Most loan settlements do not reduce the amount of debt. They focus on reducing the amount of payments made to the lender and could, in the long term, mean paying more over the life of the loan. But there are ways to come out of the loan settlement process getting a refund on past debts pay less over the future life of your loan while also reducing the monthly debt load. But it’s almost impossible to get one of those deals without first utilizing a loan auditing service and legal representation.
If you or your client has a mortgage contract that you believe may have been violated by your lending institution, you have a right to a loan audit. A forensic loan auditor will go over your mortgage contract and help you identify violations. Some of those violations could lead to at least a partial refund of past payments to you or your client.
The loan settlement is the final restructuring of the loan. While it possible to get a loan settlement without going through the legal process to seek remedies for financial injury, sometimes legal means are necessary to seek closure. If that is the case then the mortgage loan audit is an instrument that can work in your favor.
For more information about loan settlements and the loan auditing process, visit USLenderAudit.com.