Forensic Loan Audit

Forensic audit loan modification reviews are quite simply where an expert sits down with your mortgage and looks for mistakes and even predatory lending signs by the bank or mortgage holder. A forensic loan audit does no good to the borrower. In the event a forensic loan audit is done, the result will only be to slap the lender with fines. The process does nothing for the borrower other than if they want to cancel their "contract" (or note) with the lender they can for violations to the truth in lending, however, the borrower would have to pay back the entire amount of the principal given to them by the lending institution at the time of canceling. We do not perform forensic loan audits because the loan audit most often can lead the home owner into a direct litigation path with the lender that the home owner will not win. Additionally, forensic audit loan modification reviews are expensive. Many say they are a form of predatory scam themselves. There are people who need them and people who do not. It is up to the home owner to know which category they fall into. If they do not know, then they should consult a lawyer for advice.

When you DO NOT NEED a forensic audit loan modification review?

Home owners facing foreclosure almost never benefit from a forensic loan audit. This could be just the bargaining power that they need to get their loan modified or otherwise fixed to prevent foreclosure. The problem with this, however, is that a great many people do not know how to use it when they get it. This further exemplifies why you need a lawyer, and it should be high on the list if you can afford it. As a matter of fact, many lawyers will take care of forensic audits of the loan for themselves and keep you from paying separately. Whatever the case, you should not attempt getting a forensic audit loan modification unless the bank is being difficult about finding options. The exception to this is if you suspect that the loan was predatory in the first place. This could be worth the cost of forensic audit loan modification review.

How do I know that a forensic audit loan modification review is a scam or not?

This can be tricky, but common sense will take you a long way. For example, most forensic audits of this nature will cost several several thousand dollars. If someone is offering you a review for extremely low prices, then chances are you should investigate them further. Regardless of cost, a company should be investigated strongly before you buy anything anyways. Check with the BBB in your area and make sure you look up some of their previous customers on your own. Do not accept their offers of references as gospel, as these can be easily faked. Go do the leg work yourself. Another key is to make sure you check their qualifications with the appropriate agencies. Most companies will have bogus credentials if they are a scam. Like mentioned above, just use your common sense.

Forensic audit loan modification almost never help those that receive them and end of costing the borrower a significant amount of time, energy and money. If you feel that your loan issues are primarily due to financial hardship and the bank is working with you to try to solve your problems, then it is never a good idea to present them with a document of this sort. As stated above, we do not perform forensic loan audits for a multitude of reasons. Please give us a call to discuss in further why a forensic loan audit will not be of benefit to you but working with the bank to loan modify will save your home.