| Forensic
Loan Audit
A Forensic Loan Audit identifies infractions and violations committed by your lender and/or broker when they originally funded your loan.
To a large extent, these violations are the LEVERAGE used to argue your case against your lender. Generally, the more violations, and the higher their severity, the better chance you have of obtaining a loan modification with long term positive results.
A Forensic Loan Audit is the FIRST STEP in obtaining a home loan modification if you are not behind in your mortgage payments, facing default or foreclosure. It’s critical when commencing any type of litigation when fighting foreclosure. You should obtain a Forensic Loan audit to determine what laws were broken, if any, by your broker or by your lender.
BEFORE YOU EVEN CONSIDER FILING A LAW SUIT WITH YOUR LENDER, A Forensic Loan Audit will provide the information and leverage necessary for a successful outcome. Lenders will want to settle with a loan modification rather than face costly litigation.
The Hard Facts!
These are very hard times and you are not alone. Millions of homeowners are living paycheck to paycheck, or simply do not have enough income to pay their bills. The drop in the housing market, the record high prices on gasoline, and record consumer debt have left many homeowners in the scary situation of not being able to pay their mortgage and other bills. Compounding these problems are “predatory loans” with terms many consumers didn’t understand. Option ARM recasts this year will exceed expectations due to sharp increases in the indexes these adjustable loans were tied to. The good news is. You may have a way out of this mess by modifying the terms of your existing mortgage.
The important thing to remember is you are not alone. Luckily there are many laws and consumer groups to protect you. In this blog entry, I’ll tell you about these groups. But first, let’s first cover some background so you know more about the situation.
Loan Modification Services (sometimes called Loss Mitigation) were established by the Federal Government and the credit industry in order to help borrowers who can’t pay their debts for a variety of reasons. A Law Office that specializes in debt negotiations with secured creditors is the best solution when going up against your lender, and a forensic loan audit can help drive better results is some cases.
The key goal of Loan Modification is to stop home foreclosures. Foreclosures help no one (not even the bank), and they have a serious negative effects on the economy–especially the local economy–where short sales and foreclosures leave homes abandoned and sap value from the surrounding neighborhood. If you are faced with a rate increase or loan recast it’s a good idea to be proactive and negotiate with your lender before you fall behind on your mortgage and ruin your credit. An Attorney can make your lender listen!
Here are the key elements of what you need to know regarding stopping or preventing foreclosure:
1. Mortgages CAN be renegotiated between the borrower and lender under certain circumstances. Those circumstances include inability by the borrower to pay, or the fact that the loan violates federal law. The process of renegotiating a loan is called Loan Modification Or Loan Workout
During Loan Modification:
The rate can be lowered, resulting in a lower payment;
The term can be lengthened, resulting in lower payments;
Payments currently due now can be amended to the end of the term; Or, best of all, the loan balance can be reduced, so that the borrower owes only a fraction of what he/she originally borrowed. The 2nd mortgage can be forgiven and eliminated.
2. Many loans funded during the “boom” years of 2002-2006 were performed with legal violations. Although only a fraction of the loans were funded with blatant disregard for the law, the majority of loans have significant violations resulting from carelessness, greed or just innocent oversight by the lender and/or broker. However, no matter why these violations were performed by the lender, these violations carry EXTREMELY stiff financial penalties for the lender, and can result in SERIOUS legal consequences to the lender, such as forcing the lender to refund all interest paid to date back to the borrower.
3. Loans with illegal terms or conditions are not enforceable. Foreclosures resulting from illegal loans are also not enforceable. The foreclosure process is STOPPED when litigation on a questionable loan begins. Mortgage payments are NOT required during the foreclosure or litigation process, although depositing the mortgage payment into a separate bank account is often considered a gesture of good will.
4. Lenders will choose the most rational and fiscally sensible response when presented with the legal facts. When facing their legal options: modifying your loan, foreclosing your home, paying some high-priced attorneys to litigate, or risk stiff federal fines and penalties, many lenders will choose Loan Modification as the most financially sensible option.
Understand that in order to take the high road position, YOU MUST KNOW WHAT VIOLATIONS WHERE PERFORMED BY THE LENDER.
This is the key to obtaining a favorable outcome during the Loan Modification process. This leverage will help you argue your case in favor of having your loan modified.
What you need to do: Get a forensic loan audit and hire an Attorney.
After performing a thorough assessment of your personal finances and analyzing the original paperwork, legal documentation and disclosures associated with the loan, the Forensic Loan Audit will document what laws were broken by the lender and/or broker during the loan process. The Forensic Loan Audit will determine if the loan is even legal.
From this perspective, you may opt to attempt to modify the loan yourself (not highly recommended) or hire a professional attorney to get you the best possible solution to your home foreclosure problem.
Call or visit The Feldman Law Center today at 800-659-6525
Our goal is to help home owners save their home and assist lenders in getting mortgage loans to perform thus bringing stability to this troubled housing market. Mortgages that are or will become unmanageable must be worked out fast with a “make sense” loan modification. Lenders are not property managers and consumers deserve fair interest rates and the benefits of home ownership.
We understand that distressed homeowners need immediate help, and a permanent solution that is both proven and affordable.
The solution begins with a Forensic Loan Audit and a fair Loan Modification not an unaffordable Forbearance Agreement.
A comprehensive Forensic Loan Audit is the key to obtaining a beneficial, long-term solution (such as a loan modification) because the audit identifies violations made by your lender. Because of our experience and computerized loan auditing technology, The Feldman Law Center performs the most complete Forensic Loan Audit available.
In the past few years, a great number of loans were performed with errors, omissions, legal violations and just plain fraud. To a large degree, these violations are the leverage used to obtain a loan modification. Generally, the more violations on your loan (and the greater their severity), the better your chance of obtaining a loan modification.
The Feldman Law Center uses Independent Certified Loan Auditors. Our Law Firm will provide a comprehensive technology-driven loan audit from a non- bias highly qualified Forensic Loan Auditor. will provide the following when you order a Forensic Loan Audit: A color-coded Violation Severity Alert (VSA) - Escalating through green, orange and red, the VSA appears red for loans which have the greatest number and severity of violations and these loans often have the best chances for a loan modification. VSA makes it easy to determine your chances for a successful loan modification.
A 30-Minute phone consultation and advisory session with an Attorney or Paralegal. Unlike other firms, which may give you a printed report, or leave you out in the cold wondering what do next, our exclusive one-on-one legal consultation process makes it easy to determine your next step in the loan modification process. Just ask Mr. Feldman or one of his paralegal staff and he will be happy to answer your questions and provide advice.
Who Needs A Forensic Loan Audit?
The Feldman Law Center provides Forensic Loan Audit service to consumers, banks and attorneys through the United States.
Consumers - Homeowners having trouble paying their home mortgage, victims of predatory lending.
Banks - For compliance or investment appraisal, reviewing large quantities of loans is not a problem for us and discounts are offered for bulk purchases.
Attorneys - Subcontract your audits to us. Our technology and fast turnaround will make your job easier.
As a Homeowner, What Are Your Options?
These are financially troubling times for many homeowners and lenders are being inundated with tens of thousands of requests to grant loan modifications, lower interest rates, and reduce outstanding balances.
Keep in mind that, while lenders are well equipped to lend and service your loan, they are not prepared or staffed to perform modifications or workouts. Moreover, they probably do not even own your mortgage. Most likely, their hands are contractually and legally bound by the Wall Street investors to whom they sold your loan.
In most cases, even if your lender wanted to enter into a loan modification with you, they couldn’t…because they no longer own the mortgage or make decisions regarding your loan. Rather, they have to present their case to the entity that currently owns your loan: Wall Street investors.
So ponder this for a moment: you (and millions of other homeowners) are individually asking these big faceless Wall Street firms to take on financial losses because of individual personal reasons: you lost your job, your home dropped in value, you had a financial setback, or you entered into a bad loan situation.
The bottom line is this: no matter how badly you need it, no matter how important your reason, no matter how legitimate your request, Wall Street sees only numbers.
Because Wall Street sees only numbers, not reasons, excuses or explanations, they simply don’t care. In fact, they don’t have to; they are not a charity, they are a business whose main goal is to profit from real estate investments.
So, for many lenders it is an easier path to proceed with foreclose and take the homes back, as outlined in their sale agreements with Wall Street investors, as opposed to exploring alternative options with individual homeowners.
The lenders, Wall Street, and our Government can not move fast enough for you–the homeowner–to avoid losing your home or ruining your credit! But do not despair. There is help!
The best way to approach your lender is by using a legal approach. After all, this is the same approach used by the lenders themselves: they seek only to enforce their legal contract with you. They lent you money to purchase or to refinance your real estate. Now they want their monthly payments or they want the asset back…your home. It’s that simple!
You must start with a full understanding of…
At This Point, What Are Your Legal Options?
What can you do?
What should you do?
How do you get it done?
In this mortgage meltdown market, lenders focus on keeping financial losses to a minimum. This is often best accomplished by keeping a borrower in the home. Keeping payments coming in, even reduced ones, is always better than the prospects of foreclosure, where lenders see no regular income. Thus, the goals of our clients often meet those of the lenders.
Now, while it would then seem easy for borrowers and lenders to come to agreements, reaching the right person at the lenders’ offices who can make decisions is often very difficult. The benefit of using The Feldman Law Center and its affiliate attorneys is that they are able to touch the right people with the right message.
Your attorney will negotiate directly with the people who actually make decisions regarding your loan, and will facilitate the most logical and beneficial outcome. We save our clients’ valuable time, so they don’t have to waste time on the phone, or writing letters. This usually results in a positive outcome for not only our client, the homeowner, but also for the lender.
If negotiations fail, and our client has valid complaints against the lender, we file suit in court. This action immediately gets the lenders undivided attention, and puts us in a position to be heard.
Fortunately, the big lenders hire “Big Name” experienced law firms who understand mortgage laws very well. These seasoned attorneys do not usually hesitate to settle when faced with facts against their client. Thus, many cases will settle before trial, which means less hassle for our client and for the lender.
Order your Forensic Loan Audit Now at The Feldman Law Center
How is a Forensic Loan Audit structured? All of our loan audits follow these guiding queries:
Did the lender provide a good loan?
Did they qualify you for a loan that you could not afford?
When underwriting your loan, did they “stretch” their guidelines?
Did they discriminate against you because of your race or color or religious beliefs?
Did they tell you one thing, but delivered something different at the closing?
Did they comply with all States and Federal Laws?
Did they provide the correct documentation to you at the proper times? Was it filled out correctly? And did you understand what was being provided?
The best way to get your lender to listen to you is by presenting a legal case to them, along with proof that they committed errors in underwriting, approving, and funding your loan.
Lenders and Wall Street investors do not want a legal battle on their hands, and will likely allow a loan modification to take place, if it is truly based on legal facts.
Armed with very expensive attorneys, lenders know it is cheaper to modify your loan instead of spending as much as $650.00 per hour to litigate.
Get the facts! Get your Forensic Loan Audit done. Know your Violation Severity Alert (VSA) level, speak with an attorney, and fully understand what you must do to save your home, so you can start rebuilding your life!
Order your Forensic Loan Audit Now!
At The Feldman Law Center, we perform a complete Forensic Audit in accordance with specific state laws and statutes.
From the Audit, you will find out if you have been deceived in any way by the Lender, Title Company, your Broker, and your Realtor. You will also be apprised of and/or your Lender has committed any state or federal loan violations.
Our Team of Loan Compliance Auditors are seasoned professionals with audit expertise in state and federal laws, mortgage compliance and underwriting. We provide Forensic Loan Audits nationwide.
Our compliance experts have performed thousands of audits nationwide. Our personnel have earned the respect of the world’s largest banks, Wall Street investors, attorneys, and regulatory groups. We have the experience and leverage you need to obtain a favorable outcome.
What Do You Receive When You Purchase Your Forensic Loan Audit
Our Forensic Audit Process will determine if Your Mortgage Lender has acted in Compliance with RESPA, TILA, and Local, State and Federal Regulatory Lending Guidelines.
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