Litigating a loan settlement claim can get sticky without the right documentation. When you enter into court on behalf of your client you want to have all of the documentation necessary to present your case and get a win for the client. That means uncovering any lender violations that give your client the right to rescind their loan. How do you find that information out? Should you wait for the discovery phase of your court case?
Waiting can be detrimental to your client and to your reputation as a tough lawyer. You need to know the facts before you enter discovery and the best way to get down to the core of your client’s case is to order a forensic loan audit.
The forensic loan audit can tell you several things about your client’s mortgage, including:
- Is it an FHA or non-FHA loan?
- Are there TILA violations that can give your client rescission rights?
- Is it subject to HOEPA law?
- Does the loan provide your client with a net tangible benefit?
- Did your client’s mortgage company make any substantial material claims or misrepresentations that caused your client to enter into a loan that is detrimental to their welfare?
And it can do a lot more. This is just the tip of the iceberg. Bottom line, if you are litigating the case and expect to win, you’ve got to know who your client is doing business with and how they are doing business. The forensic loan audit can tell you that.
Learn more about lender litigation strategy now.
Are you an attorney looking to do more loan modifications or get into the forensic loan auditing business? Are you wanting to increase your knowledge of the loan settlement process, including the best litigation strategies for solving your client’s mortgage issues? Then I highly recommend the Foreclosure Prevention and Debt Relief Law Program for Attorneys.
The course is a two-part course taking place July 21-22, 2009 at the SDCBA Bar Center in San Diego, California and sponsored by the Real Estate Property Law Section of the San Diego County Bar Association.
As many as 83% of mortgages have loan violations that could result in legal remedies for the borrowers. That’s a lucrative opportunity for real estate attorneys who possess the skills and are aggressive enough to go after the unscrupulous lenders who have created the mortgage crisis. You can be a part of the solution.
The program will cover important legal topics, including an overview of the following applicable laws:
- TILA
- RESPA
- HOEPA
- FDCPA
- FDCPA
- ECOA
- The latest changes to the California Law
- And ethical issues
Get the latest information on real estate law and the current state of real estate in California. If you are attorney practicing in California, this is an essential program that will benefit you and your clients and could help many of your clients escape foreclosure, save their homes, and increase their financial security.
If your loan situation comes down to a fight - as many do - then you want a tough, smart attorney at your defense. And on your offense.
One of the most important parts of your fight against your mortgage lender will be setting up an alternative funding source just in case things turn really sour. After all, you don’t want to lose your home while you are fighting for your rights.
An alternative funding source helps you do four things:
- Get out of a predatory loan
- Meet all your financial obligations in case you have an extended right to rescind your mortgage loan
- Remove yourself from an abusive loan servicing operation
- And provide stability while you transition from volatile and inappropriate loan products designed to take away your wealth and redistribute it into the pockets of your lender into fixed rate mortgage products that are predictable, wise, and designed to help you create and protect your wealth
Most homeowners don’t have an advocate. They are in it alone and unscrupulous lenders know this. That’s why they’ve stacked the deck in their favor and are all too willing to sell you adjustable rate mortgages you don’t need and other loan instruments that are damaging to you, your credit, and your financial health. They really don’t care about you at all.
Litigation isn’t fun. We all want to avoid it if we can. But you’d rather go into court than be taken advantage of. But before you do, set up your alternative funding source so that you have a safety net in place if things get really nasty.
Learn more about lender litigation for the loan modification process today.