Forensic Loan Audit Report For Mortgage Fraud Cases

Losing a home to foreclosure is one of the secret fear many homeowners abhor. You lose your home to foreclosure if you fail to meet the deadline set for your mortgage payment. Although you won’t far foreclosure if you miss one payment, however, if you go several a couple of months without paying your mortgage, your lender can foreclosure your home.

It’s a difficult time for many homeowners as they are put under a lot of pressure from family and their lender to save the home. It’s this period that certain individuals exploit homeowners with a fake rescue plan to save their homes. The Federal Trade Commission, the nation’s consumer protection agency, has indicated that most rescue plans are scams.

It would be tragic if you ended up trusting scammers in an attempt to save your home. Those fraudsters promise relief to homeowners who are about to lose their homes. The relief could be to help them reinstall the loan and other lies they can find.

They promise to help you review your loan statement to determine if your lender has the right to foreclose your home under state mad federal mortgage lending laws. They will tell you that you can cancel the foreclosure process with the audit report and accelerate the loan modification process or even cancel your loan. It will be better if that’s all; however, they will only help you with the audit report of you pay hundreds of dollars as a down payment.

The fact that they come to you with forensic attorneys and other professional personnel should not make you believe whatever lie they tell you. The time when you are faced with foreclosure is a very delicate time, and you shouldn’t let your emotions be played with by anyone. Taking your time to explore the truth will help you avoid being scammed. According to the Federal Trade Commission, there is no evidence that forensic loan audits will help you get a loan modification or any form of foreclosure relief.

Of truth, some laws permit you to sue your lender for error or inaccurate accounting on your loan documents, and if the evidence is true, you can avoid foreclosure. However, suing your lender does not guarantee that you will be allowed to modify your loan or make it more affordable. It might cost you more with the addition of an attorney’s fee if you lose the case. Therefore, knowing the laws that guide foreclosure in your state and federal government laws will help you stay clear of fraudsters.

However, if your home is about to be foreclosed, you should know that fraudsters selling foreclosure rescue scams will be looking for you. It’s a time when you shouldn’t give your time to just anybody because they can be very persuasive and use your emotions against you. It’s not wrong to try to save your home through any means you can get; however, you will end up more harmed if you trust the wrong channel.

How you can identify fraud businesses.

1. Any business that promises to help you stop the foreclosure process on your home with immediate effect is a scam and should be avoided.
2. Those that promise to help you stop foreclosure no matter how bad the situation gets are liars as well.
3. Some of those fraudsters know that they can’t deceive everybody, so they instruct you not to tell your lender, lawyer, and others that can save you anything about them. Run from such businesses.
4. If they insist you pay them before they can provide any services whatsoever, they are more likely to have set out to scam you.
5. It would be best if you ran from any business that asks you to send all you have to them and promise to help you add enough to it to pay your mortgage loan. This is one sign of fraudsters you shouldn’t ignore.
6. Transferring your property deed or title to them will simply render you homeless as they can choose to do anything with your home, including selling it. Therefore, if you meet with businesses that offer to help save your home on the ground of you transferring the property to them, be aware that they are there to scam you.
7. Since many homeowners are under a lot of pressure while facing foreclosure, the fraudsters will fill your head with sweet promises and coarse you to sign some documents in a hurry. If they want you to sign any paperwork without reading through them or thinking properly, they are scammers, and you should run from them.

These are some of the signals you should look out for whenever someone or a business offers to help you save your home from foreclosure. However, there are other ways you can be helped to avoid foreclosure:

• Stay in contact with your lender.

Many homeowners try to avoid their lenders at this period because they think it will help, but that’s a lie. Before your lender can foreclose your home, the federal law demands that they have offered you solutions to help with your loan payment and avoid foreclosure. However, after missing one or two payments, most people avoid their lenders and any messages or call from them. Staying in contact with your lender will prove to them that you’re responsible and will keep you updated on any possible solution you might have to save your home.

• Hire a foreclosure attorney.

Working with a foreclosure attorney has proved to offer many benefits and ultimately can help you stop the foreclosure process before it gets out of hand. A foreclosure lawyer will know more about state and federal laws guiding foreclosure than an average person, and this can be an advantage, especially when your lender shouldn’t be foreclosing your home. A foreclosure attorney can also help you negotiate loan modification and other alternative solutions your lender makes available.

• Government help.

The government in every state has schemes and programs set up to help struggling homeowners save their homes. Those programs offer help such as providing helpful information, counseling session, loan modification, funds, etc. There are various criteria to qualify for the help, find out about which criteria your state is requesting, and submit your application on time.