Forensic Loan Audit
Definition:
A forensic loan audit is a loan fraud and predatory lending investigation report used to identify infractions and violations committed by your lender and/or broker when a loan was originally funded. A forensic loan audit is the first step in home loan modification and is critical if you are behind on your mortgage payments, facing default or foreclosure, since it will give you leverage when arguing your case with lenders. It will highlight any laws broken by your broken or lender.
Consequences of Forensic Loan Audit:
In some cases, after conducting a forensic loan audit, violations are found in which the borrower might be able to cancel the loan. More often, however, the borrower can use the evidence of the violations and apply it towards modifying the loan. It is also your broker's or loan officer's responsibility to disclose all the terms of a loan to you truthfully and in good faith. If they failed to do so, it is your right to have the terms of your loan modified to your advantage.What a Lawyer can do for you:
A lawyer can perform a forensic loan audit and determine whether or not you received the loan you were told you were getting. Depending on the reports, a lawyer can uncover fraud, negligence or misrepresentation by your loan officer or broker. A lawyer can also discuss your next steps for bringing a case against the lender, or work with your lender to help you get a settlement that works to your benefit.Lawyer Referral Service:
If you need a forensic loan audit to help you uncover flaws on your loan or any predatory lending issues, a lawyer can help. Contact Attorney Search Network today to get a forensic loan audit and start assessing your case.If you have any questions about the information
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