A loan audit, along with its supportive research usually provides a common base where all the associated parties, expressly the lenders and borrowers, are made aware of any violations in the initial funding of a mortgage agreement. This is especially useful to the borrower who may have become delinquent on mortgage payments and is facing foreclosure.
If any violations are found to have occurred in the issuing of the mortgage, the borrower’s attorney can make a strong case for a modification. A loan audit provides factual evidence and support which can be used to help borrower’s in need of better repayment terms, restructuring of new terms, and capital or interest rate reduction.
The other important feature of this type of audit is that it may be needed to help move a non-judicial foreclosure action (currently valid in 29 states), and if required, in any case of jurisdiction, which can quickly stop foreclosure in its tracks. Loans with illegalities are not enforceable. Foreclosures resulting from loans with miscalculations are also not enforceable.
Are you behind on your payments?
Is foreclosure a threat?
Are you concerned about possibly losing your home and being forced to uproot your family?
A loan audit may be your best chance of avoiding foreclosure, saving your home, and renegotiating for more affordable terms. How else will you know if your lender or broker committed any illegalities? You absolutely need a loan audit! A thorough analysis of your original mortgage agreement benefits you and ultimately the lender too. Lenders make their money by lending, not by foreclosing on homes. Believe it or not, your lender needs you to keep your home and pay your mortgage on time. They may not be all that thrilled if your attorney uncovers any violations, but they will work with you to modify your terms.
To learn more information about loan modification services contact Janian and Associates for a free consultation.
Tags: attorney, foreclosure, loan audit, loan modification, mortgage agreement, Mortgage Restructure, Mortgages