|
|
Loan Forensic Analysis - Loan CramdownExamining Your Loan for Truth in Lending Act Violations, RESPA ViolationsCurrent loan modification programs (voluntary for the lender) are designed for your principal residence However, if there is a violation of federal laws ,or predatory lending, the owner can demand legal relief and not rely on voluntary cooperation. A recent syndicated news article estimates most loans have document errors that can stop a foreclosure and lead to a mandatory loan modification. The article states, "Even a minor $30 miscalculation on the lender's part could be an actionable offense, and the threat of a lawsuit is often enough to persuade the lender to deal with you in trying to find a way to help you work through your financial difficulties."Borrowers can stop foreclosure and get loans modified if they only knew what to look for and how to defend themselves. Our #1 goal is to look for violations of federal law.If these violations are found, then the borrower may be eligible for a LOAN CRAMDOWN and not rely upon the lener's volundary programs. 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 reasonsable attorney's fees.This can be done by means of a Loan modification, a new affordable loan or a short sale and receipt of cash damages. Forensic Loan Document Audit.
|
