How Mortgage Auditors Are Saving Homes

By Prev Info - December 30, 2022


To the tens of thousands of citizens who have been not capable of affording their mortgage payments or were facing foreclosure, the assistance of a mortgage auditor has been invaluable in helping them save their homes. The duty of a mortgage auditor is to go through all documents related to a mortgage and uncover any mistakes or violations that could have occurred during the lending procedure.

This includes not only the preliminary closing procedures, but also rate adjustments and charges that occurred later on, well after the contracts were signed.

While home owners may have been aware of the basic guidelines of the loans to which they commit, a mortgage examiner has an in-depth understanding of the "small print" on loan contracts. An exceedingly large percentage of them have been found to have fraud of some sort, including overcharges on rate adjustments, understatements of prepaid finance charges, rounding errors and even addition of extra principal costs.

The discovery of these violations has resulted in refunds for a large number of borrowers, some in excess of $10,000. Others work with homeowners to successfully lower their monthly mortgage payments. With the assistance of a mortgage auditor, distressed homeowners can fight foreclosure and keep their homes.

Awarding mortgages with adjustable rates enabled many people with a dream of owning a home to finally do so, but with the American banking crisis, hundreds of banks and mortgage lenders have gone out of business. Many of them have sold their mortgages to "new" lenders who are unfamiliar with the contract terms, including the interest rate adjustments.

Therefore, homeowners may be paying puffed up bills to a lender with whom they have never done business with before.

A mortgage auditor can help reveal if homeowners are being overcharged and if they are entitled to a refund, new loan terms or are free to cancel the contract altogether. For those facing foreclosure, the assistance of a mortgage auditor can offer force in negotiations with lenders they would not have had on their own.

Borrowers countrywide have successfully stopped their foreclosure and gotten their financial lives back on track because of the assistance of a mortgage auditor. Some have seen a reduction in their loan's principal balance upwards of $50,000 and months of back payments waived. Other borrowers, after being foreclosed upon, were able to have the lender postpone the trustee sale when errors were found in their contract, thereby saving their home at the last minute.

One Florida family was even awarded their house back, mortgage-free, after mortgage auditors discovered violations that violated federal and state laws.

There are numerous benefits of working with a mortgage auditor. Along with the probable monetary and legal gains available to homeowners, the assistance of a mortgage auditor can also provide the peace of mind and security of knowing that your home is safe. For anyone who has been trapped by the mortgage loan crisis, a mortgage auditor may be your best solution.





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