Forensic Loan Audit

Loan modification attorneys are special people. You help people keep their homes and get them at affordable mortgage rates so that they live within their means. In the worst cases you are up against some tough predatory lenders. And if you have the right tools at your disposal you’ll beat them. Here are some loan modification terms you should know in order to win in court and at the negotiating table:

• Loan Modification - Any change to an existing loan, usually that is favorable toward the borrower.
• Loan Settlement Statement - A document given to a borrower at closing that shows all disbursements being paid to all parties involved in the transaction.
• TILA - Truth In Lending Act. Passed in 1968.
• Regulation Z - A part of TILA. Most often cited for its right to rescission for the borrower.
• HOEPA - Home Ownership And Equity Protection Act. Affords protections to consumers of high interest and high fee loans.
• RESPA - Real Esate Settlement Procedures Act. Protects consumers of loans on HUD homes.
• ARM - Adjustable Rate Mortgage.
• Loan Auditor - An individual who does not represent either party to a loan transaction, but is capable of reviewing loan documents and finding lender violations
• Lender Violation - Any law that a lender has broken intentionally or unintentionally while servicing a loan.
• Mortgage Document Review - An independent review of a homeowner’s mortgage documents and analysis regarding whether any lender violations exist.
• Forensic Loan Audit - A thorough, scientific investigation of a loan to determine whether a lender has violated any federal, state, or local laws in the servicing of the loan.
• Foreclosure Defense - A strategy used to help stop the foreclosure process before the homeowner loses her home.

These are just a few of the terms a loan modification attorney should be familiar with in order to help homeowners keep their homes and save their mortgages. Hope it helps you succeed.

You know your sick and tired of your mortgage company sending you threatening letters. Now it’s time to do something about it. The latest statistics show that 83% of all mortgages have violations in them. And you might be wondering, “What’s a violation and what does it mean?”

Essentially, it means your mortgage company broke a law. There are case laws that offer specific requirements for mortgage companies to follow and if they don’t follow those requirements then there are penalties. In some cases your mortgage company could be required to refund you some of your money. Here’s what you do:

1. Hire an attorney that specializes in loan modifications
2. Have your attorney order a mortgage document review
3. After your review reveals violations to any applicable state, federal, or local laws, authorize your attorney to meet with your mortgage company to negotiate a loan modification

Pretty simple, right?

It is simple, but there are complex laws that require certain documentation of your mortgage company. The mortgage document review is the one tool that can show any violations, giving you the evidence you need to win in court and/or seek a more fair and equitable mortgage agreement. A qualified attorney can help, but you’ll need the document review to be your leverage.