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How can Uncovering Mortgage Fraud help me Evade Foreclosure?


By Prev Info - December 30, 2022

How can Uncovering Mortgage Fraud help me Evade Foreclosure?

The housing crisis has affected families across the nation, with thousands of homeowners facing the possibility of foreclosure. . However, by enlisting the expertise of a forensic mortgage investigator, once-desperate homeowners now have the leverage needed to reach a deal with lenders, banks and mortgaging companies.

All documentation pertaining to a home loan undergoes a detailed examination by a Forensic Mortgage Fraud Investigator during a process called a Mortgage Loan Audit. Amazingly, violations such as mathermatical miscalculations, overcharges and breaches of federal and state lending regulations have been discovered in over 80% of loan documents studied.

Much to the dismay of innocent homeowners, some of the mistakes discovered are accidental, quite a few others constitute deliberate fraud.

In either case, the discovery of mortgage fraud can entitle borrowers to refunds, stop foreclosures and give them the bargaining power for loan modifications.

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 contracts to alternate mortgagers who are unfamiliar with the terms of the original loan. Often, the new companies will arbitrarily select a margin, resulting in huge overcharges for borrowers.

Of course, mortgage fraud can happen as early as the pre-closing phase, before the fine print is even dry. . Tens of thousands of dollars have been wrongly charged to borrowers due to mortgage fraud.

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 discovering any discrepancies like these in your contract and weeding them out

Although it may seem to many that they are without help in the face of foreclosure, there are options available.. 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..

Homeowners across the country can be spared the pain of losing their homes just by asking for help; dont be afraid to reach out.






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