A Forensic Loan Audit Will Find Out if You Are
A Victim of a Predatory Loan
While we are all aware of the mortgage crisis that continues to threaten
homeowners across the country, what a lot of people are not aware of is the high
percentage of predatory loans that many homeowners have been the victims of. It
is estimated that about 80% of all home loans have multiple TILA and RESPA
violations. These violations have placed many homeowners at risk of losing their
homes to foreclosure.
The best way for a homeowner to determine if their loan is of a predatory nature
and if they have been the victim of any violations at the state and federal level is
by having a forensic loan audit performed on their loan documents. A forensic
loan audit will examine your mortgage documents and determine if there have
been violations such as excessive and unnecessary fees and high interest rates, to
more basic violations such as incomplete loan applications or incorrect dates. If
any of these are discovered by your forensic loan audits, it may be able to open
doors allowing a homeowner at risk of defaulting on their loan and going into
foreclosure to obtain a loan mod that could significantly lower a mortgage
payments. If a forensic loan audit discovers more serious violations, this could
give a homeowner legal recourse against a lender and in some rare cases, be able
to have their loan rescinded.
A forensic loan audit will make sure that your loan complies with all state and
federal predatory lending laws, such as RESPA, TILA, HOEPA, UDAP, ECOA
and OCC. Lost documents, incorrect appraisals, improper notices and other
violations that are becoming increasingly commonplace when dealing with a
predatory lender means that a large number of mortgage loans could be legally
unenforceable. A forensic loan audit that has the potential to give you legal
recourse against your lender will help them sit up and take notice of you, and
potentially move you to the front of the line when it comes to renegotiating the
terms of your loan through a loan mod.
Remember: the predatory lenders engaging in these underhanded practices do not
care if there are any of these violations just as long as you keep writing a check
out to them every month. This is why it is extremely important that you take
advantage of every available resource such as loan audits to help protect your
money and your investment. Many banks don’t have any incentive to grant a loan
mod to customers, which is why the approval rate remains around 20 per-cent.
Going to them with a forensic loan audit in hand shows that you mean business,
and you will not be taken advantage of.
This is why you should not hesitate to contact Tila Solutions to give you the help
you need in the form of a forensic loan audit. For over a decade, Tila Solutions
has been looking out for the homeowner with their forensic loan audits and
securitization audits. If you need help stopping foreclosure, a Tila Solutions
Consultant is available by telephone at (702) 508-0335. Or you can visit the Tila
Solutions website at loan audits.