Comments on: Forensic Loan Audits: A Serious Tool For Loan Modifications

By: thegoldguy

thegoldguy — Thu, 12 Mar 2009 23:10:46 +0000

Liked it! Who knew? Glad I don’t need to get one!

By: paul

paul — Tue, 20 Jan 2009 19:30:34 +0000

could anybody tell me where i could take a forensic audit coures.

Thanks

By: Venita Jefferson

Venita Jefferson — Mon, 03 Nov 2008 20:45:26 +0000

Has anyone had a lender place a negative statement on one’s credit. Chase placed a statement on my client’s file saying that her house was inhabitable so she was unable to refinance. They then said “Uh oh” and forwarded her a letter telling her that it was a mistake, but at that point it was too late. Now they want to foreclose (2 months, but they say 3 months) and each month they are telling us to pay the first mortgage payment and then they may help her with a loan modification. However, they are telling her that her husband’s income would/may not be considered since he is not on mortgage and he may leave her.

I have finally spoken to someone who says he will try to get modification with husband’s income and he can turn it around in two weeks.

Unbelievable. So, we may get a modification, but no refinance.

By: Matt

Matt — Fri, 26 Sep 2008 03:51:49 +0000

Definitely a worthwhile idea IF you HONESTLY feel like you were a victim of predatory lending in some capacity (not so much just blatant, but there are nuances along the way that if piled up would also possibly work in your favor).

Quick Google search found this law firm post: (forensic loan audit, no quotes, ~100,000 references)

http://activerain.com/blogsview/352694/Forensic-Loan-Document-Audit

Posted back in January of this year. Others sites slowly popping up and being mentioned.

Since I’m willing to bet many people don’t know how or don’t know period about negotiating with a lender when in trouble, the idea that “If (these) violations are found, then the borrower may be eligible for complete relief of the predatory loan. This is know as a loan rescission. Meaning the lender takes back the “predatory loan” and awards or credits back to the borrower all interest made on payments thus far, loan origination fees, all applicable lenders fees, penalties and attorney’s fees” would seem very applicable.

But also I read on another site and it made sense that anyone theoretically can open a center to do these…so due diligence is always needed. Having an attorney do it like I posted above would more than likely be the safe route to go.

By: sue

sue — Tue, 23 Sep 2008 22:50:29 +0000

who can I contact about getting a forensic loan audit?

By: raj

raj — Tue, 23 Sep 2008 14:27:08 +0000

Hi,
Where do I find details of those regulations ?
I can think of one excuse by the lender, “we didn’t want to do it but the borrower (pleaded or cried or whatever) to soften us to waive the requirements.” It is a lame excuse.
Raj.