Is A Forensic Loan Audit Your Answer
It is sad to see the devastating effects that the home market has had on moral of homeowners. In order to short sale their home, people have to quit paying on their mortgage, which kills their credit score and makes getting credit lines and loans in the future much more difficult.
With the specter of foreclosure on their financial radar, many people who go through the short sale process have no options but to file bankruptcy as a back up plan.
Is a forensic loan audit in order?
Thousands of homeowners have already collected the settlement money they are due after their lender is show to have violated the law in one way or another when the funded your home loan. The basis for this is that 83% of lending institutions have been cited for “significant” compliance violations.
The seriousness of the types of mistakes lenders make ranges from fraud all the way to simply mistakes in accounting. In any transaction the home loan company has to fulfill certain regulatory guidelines and responsibilities, and to neglect to do that would leave them liable to correct those mistakes with money or a change in the terms of the loan.
How will I benefit from a forensic loan audit?
Real estate owners who have eliminated every other option can only choose to stop paying on their home loan. For instance, one great strategy is to take your home loan payment and purchase a loan audit which makes sure the bank pays your for any wrongdoing they may have performed while granting your loan.
Since so many auditing attorneys work on a contingency fee basis the audit ends up costing the homeowner nothing, especially since if the bank is found to have done nothing wrong the procedure ends up being free. Requesting an audit is simple so do not hesitate to act in a constructive manner and avoid financial catastrophe!
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May 8, 2010 2:02 am 
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