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Learn the Secrets Lenders Don't Want You to Know With a Forensic Mortgage Audit!
Detect the Fraud In Your Mortgage!
Every homeowner should know what's in their mortgage. Being informed can potentially save your home, as well as save you time and money.
- Do you know if your lender rightfully owns your home?
- Have you asked yourself "why are there so many fees attached to my mortgage?"
- Have you ever wondered if the fees you're being charged are legal?
- Have you ever wondered why even though you pay your mortgage on time the principal doesn't seem to decrease?
Are you experiencing any of the distresses below?
- Can't refinance out of an Adjustable Rate Mortgage (ARM)
- In limbo waiting on the bank to do something with your loan
- Extremely delinquent in your mortgage payments
- Thinking about filing bankruptcy
- Considering walking away from your home
If you answered yes to any of the questions above, a Forensic Mortgage Audit of your loan can give you the leverage and power you need to turn the table on your lender.
What is a Forensic Mortgage Audit?
A Forensic Mortgage Audit is a thorough investigation of your mortgage loan documents. The audit determines if there are any Federal Truth in Lending Act or Real Estate Settlement Procedures Act (RESPA) violations in your mortgage. It detects fraud and errors in over 300 state and federal laws pertaining to your mortgage.
Why Do I Need a Comprehensive Forensic Mortgage Audit of my Mortgage?
More than 80% of mortgage loans generated or refinanced during the years of 2002 through 2008 may have fraud, and violations that do not comply with the applicable mortgage lending laws. As a result, the majority of mortgages generated during those years have questionable legal standing. In other words your lender may lack legal right to your home.
When litigation is necessary, you’ve got to have your evidence lined up early. Not everyone will end up in litigation, but if you do then you’ll want to have all the information that you can get to prove your case against your lender. The more evidence you have in your favor, the more likely you are to negotiate with your lender to get a fair and equitable loan settlement. A Forensic Mortgage Audit can be your best discovery tool.
A Forensic Mortgage Audit will determine if the loan program you applied for is different than the one you were eventually approved for. Sometimes the initial loan application is for a fixed rate loan, whereas the borrower is forced to accept an adjustable rate mortgage (ARM) at the closing table. When this occurs, you could possibly be a victim of predatory lending practices. If errors and/or fraud are found in your mortgage the Audit can give you REAL leverage to negotiate with your lender.
What Is Predatory Lending?
Predatory lending is defined as any of a number of deceitful, misleading, biased, or adverse lending practices. Some examples of predatory lending are excessive interest rates, undisclosed adjustable rates, negative amortizing, and excessive fees. At Mortgage Detection & Review, LLC, we audit your mortgage loan documents to ensure that such illegal practices are exposed. Predatory lending comes in different forms. Below are 8 abusive loan practices:
- Abusive Prepayment Penalties
- Kickbacks to Brokers (Yield Spread Premiums)
What if Errors and/or Fraud are Found in My Loan Document?
If errors and/or fraud are found in your loan documents it can give you the leverage you need to turn the table on your lender. You could possibly have your loan rescinded. If errors are found in you should take the audit report to a reputable attorney so that he can help you get a modification that will benefit both you and your lender.
What are Some of the Errors a Forensic Mortgage Audit Can Find?
- The lender does not know who owns your loan.
- The loan was sold to a securitization trust.
- The mortgage is held by MERS as nominee for the original lender.
- The person who signed the assignment of your mortgage had no legal authority to do so.
- Signatures on affidavits were not truly notarized.
- Your home was sold as a result of fraudulent loss-mitigation action.
How Can a Forensic Mortgage Audit be Used in Loss-mitigation?
Homeowners in default have a chance to stop Loss-Mitigation by exposing lender violations in the mortgage on their property. Again, more than 80 percent of loans audited today have detectable compliance errors, some of which deem the mortgage note unenforceable. Since most everyone is aware of lender fraud, courts are much more willing to lean in the home owner's favor.
IF YOU ARE STILL IN YOUR HOME "FIGHT!" DO EVERYTHING YOU CAN TO REMAIN THERE!
Why Fight My Lender?
- You should fight because chances are the lender who has you in Loss-Mitigation is not the legal owner of your mortgage. As a result the legal system can be used to help you stay in your home. But the Judge will need proof of the fraud in your mortgage. A Forensic Loan Audit is your best defense against your lender.
- More than ever the odds of winning in court are in your favor.
- The only party profiting from this massive fraud is the middleman who is "PRETENDING" to be your lender.
- In Cook County, Illinois, Sheriff Tom Dart will not honor a court eviction, unless the bank and their attorneys can prove their hands are clean and they have the right to take your home. (Click on "View Videos" link for more information.)
- Even if your home has already been sold, the sale may be reversed and confirmed null and void if it is proven that fraud was committed. You could possibly sue your lender for damages.
- The investment banks that setup the securitization trusts have been stealing money from both sides of the transaction.
- The investors are being defrauded with accounting tricks, while borrowers are being forced out of their homes sometimes illegally.
EVEN IF YOU END UP LOSING THE FIGHT YOU MAY BE ABLE TO WALK AWAY WITH MONETARY DAMAGES! (Visit our link "In the News" to learn more.)
Get a Forensic Mortgage Audit and FIGHT BACK!
