The threat of foreclosure has become a reality for thousands of American families as the housing crisis continues to ravage the economy. However, many have found that they already have the leverage needed to negotiate with lenders, mortgage companies and banks as the result of a successful mortgage loan audit.
A forensic mortgage fraud investigator is a professional who completes a careful analysis of all documentation pertaining to a home loan, also known as a Mortgage Loan Audit. In over 80% of loan documents studied, violations of federal and state lending regulations, mathematical errors and overcharges, both in the pre-closing phase and later on, during the adjustment of mortgage rates, have been found
Though some mistakes are clearly accidental, some of the documents contain evidence of outright dishonesty, a shock to homeowners who have invested with their lenders in good faith.
With mortgage fraud discoveries such as these, the ability to halt foreclosures, bargain for loan modifications and even get refunds are available to homeowners.
Even lenders are feeling the heat of the housing crisis as several banks and mortgage companies are closing down. As a result, they are selling their deals to alternate lenders who are unfamiliar with the terms of the original loan. Often, the new companies will arbitrarily choose a margin, resulting in massive overcharges for borrowers.
This, however, is making the assumption that there were no problems with the loan initially, which unfortunately is not always the case. In fact, mortgage fraud often happens in the pre-closing process, well before the first payment has been made. . Mortgage Fraud, in any form, can be carried out at any time during the lending process, sometimes resulting in tens of thousands in overcharges..
If, for example, the lender selected the wrong index value or used incorrect sources to determine it, if they applied the margin erroneously or understated the prepaid finance charges (the most common violation) the loan contract can be considered fraudulent.. The key to saving your home from foreclosure is uncovering any discrepancies like these in your contract and weeding them out
Foreclosure, while a anxiety-provoking concept, is not undefeatable; there is assistance for those who seek it. A suggested first step is to find an experienced mortgage auditor to assist with the proceedings; their assistance has given thousands of homeowners the help they need to save their homes..
The possibility of losing one’s home can be stressful for anyone, but there is no need to shoulder the burden alone.
To Learn More About Mortgage Fraud and To Talk With A Mortgage Auditor Click This Link –> Mortgage Auditor