What is a Forensic Loan Audit?
&
Why You should do this BEFORE a Loan Modification or before you answer a foreclosure complaint !

The first step before any negotiations or foreclosure complaint be answered, your loan should be having a forensic loan audit done to see if there are any Violations in the Federal Truth in Lending Act, Regulation Z, Home Ownership and Equity Protection act, Real Estate Settlement Procedure Act, Fair Debt Reporting Act, fraud, Loan Servicing Violations and WHO OWNS THE NOTE?

First and foremost we look to see WHO OWNS THE NOTE?

WHY?

Our goal is to make certain the institution, Lender or company suing you is, in fact, the owner of the note. There is only one original note for your mortgage that has your signature on it. This is the document that proves you owe the debt.

During the lending boom, most mortgages were flipped and sold to another lender or servicer or sliced up and sold to investors as securitized packages on Wall Street. In the race to turn these over as fast as possible to make the most money, many of the new lenders did not get the proper paperwork to show they own the note and mortgage. This is the first item we look for. Now, many lenders are moving to foreclose on homeowners, resulting in part from problems they created, and don’t have the proper paperwork to prove they have a right to foreclose.

If you don’t challenge your lender, the court will simply allow the foreclosure to proceed.. This is the biggest asset in your life, and most likely the largest item on your credit. It’s just a piece of paper to them, meaning the bank, their Lawyers, and the Courts

When you get a copy of the foreclosure suit, many lenders now automatically include a count to re-establish the note. It often reads like this: “…the Mortgage note has either been lost or destroyed and the Plaintiff is unable to state the manner in which this occurred.” In other words, they are admitting they don’t have the note that proves they have a right to foreclose.

If the lender is allowed to proceed without that proof, there is a possibility another institution, which may have bought your note along the way, will also try to collect the same debt from you again.

According to CWN, a Tennessee borrower recently had precisely that happen to her. Her lender, Ameriquest, foreclosed on her in July of 2007. About three months later, another bank sent her a default notice for the mortgage on the house she just lost. She called to find out what was going on. After being transferred from place to place and left on hold for lengthy periods of time, no one could explain what happened. They said they would get back to her, but never did. Now, she faces the risk of having her credit continually damaged for a debt she no longer owes. Thanks to CWN on bringing this information. To visit their Web-site click here.

• ARM Rate Calculations must be correct
• ARM Adjustment Disclosures must be correct
• APR (Annual Percentage Rate) must be adequately disclosed

When interest rates change, especially when they rise, ARM adjustments become much more complicated and Indexes play into the picture. These economic forces can wreak disaster on improper disclosures. ARM program disclosures must be provided as soon as a customer asks about an ARM program

We also audit your loan file to see if the Real Estate Settlement and Procedures Act (RESPA) was violated.

Here is some basic information about RESPA from the Housing and Urban Development Website (HUD)

Scope of RESPA

If you're refinancing your mortgage to stop florida foreclosure or applying for a home equity installment loan, you should know about the Home Ownership and Equity Protection Act of 1994 (HOEPA). The law addresses certain deceptive and unfair practices in home equity lending. It amends the Truth in Lending Act (TILA) and establishes requirements for certain loans with high rates and/or high fees. The rules for these loans are contained in Section 32 of Regulation Z, which implements the TILA, so the loans also are called "Section 32 Mortgages." Here's what loans are covered, the law's disclosure requirements, prohibited features, and actions you can take against a lender who is violating the law.

Our first step for you is; we will at no cost to you review your loan documents to see if you qualify for one of our programs. If you qualify, and most do, we will start our Forensic Investigation into your loan documentation. If you are walking away from your house there is no cost to you…  You Pay Nothing … a $500.00 fee FREE – Zip - You PAY NOTHING!

We are sick and tired of lenders, their attorney’s and the courts violating our fellow citizens of our rights, freedom’s and lack of due process under the law.

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Legal disclaimer - We are not attorney’s and we do not give any legal advice and the company is not rendering legal, accounting or other professional services. Legal information is not the same as legal advice.