A Mortgage Loan Audit Could Stop Foreclosure
With all the talk that’s out there about the mortgage industry, it’s little wonder that more and more people have questions about whether or not their mortgage was a good mortgage - especially when they find themselves facing foreclosure or their loan is about to reset with skyrocketing rates. A loan audit can help to identify any problems with your loan; loan audits serve to uncover issues that can give you solid ground to stand on if you are going up against your mortgage lender.
A loan audit will identify whether or not the lender acted in good faith; it’s assumed that you lender will not have provided a good loan if you were approved for more than you could possible repay. A loan audit can also determine whether or not the loan you received was the loan that you were told you were signing and that all of the documentation you received was accurate. Similarly, an audit of your mortgage loan can determine whether laws were followed and whether or not you were the one who benefited most from the loan.
While not every mortgage will be found to be predatory or in violation of one policy or another, many home owners will find that they did not receive what was promised to them. A loan audit can help those who were not treated fairly to stop foreclosure, to prevent bankruptcy and, in some cases to receive money that is owed to them by the lender.
