Forensic Loan Audit

When it comes to foreclosure defense, there’s only one real sure way to win the case. It’s probably not what you think.

Your first option is to hope the bank forgets about your client and they can keep the home no matter what. But hope isn’t a plan so you might as well stop that one dead in its tracks.

You could, of course, instruct your client to sell his property to the highest of the low bidders. They call themselves real estate investors. They go around to distressed homeowners and make offers on their homes that would make a dead real estate agent roll over in his grave. And the sad part is they usually walk away with the deal. It’s a win for the investor because the homeowner takes a big loss, which they perceive as a lot better than losing the house to the bank. It’s not the best deal, believe me.

Another option is to short sale the home. Again, your client will be taking less than fair market value for the home just so they can keep their credit clean. Not really a deal, is it?

Seriously, your best foreclosure defense option is to seek a loan modification. 83% of all mortgages have lender violations in them. In essence, the lender has just walked up to you with a silver platter and handed you a gold nugget. Take it. Perform a forensic loan audit and uncover those violations. Once you know where the lender has failed to comply with the law - whether intentional or by oversight - you can pound the nail into the stake. Approach the lender with your negotiation offer and close the deal. Your client keeps the house and pays less each month to boot. Now that’s a deal!