LOAN MODIFICATIONS ARE A FAILURE!
Don’t go crawling to an abusive lender for a Loan Modification. Which do you think provides a better bargaining position: Approaching your lender with your hat in your hand and BEGGING, or approaching your lender with a LAWSUIT in your hand? A Forensic Appraisal and Forensic Document Analysis can give you the ammunition you need to go after your lender.
Click Here To Read About How Mortgage Fraud May Entitle You To Millions From Your Predatory Lender.
Everyone with a mortgage should take advantage of our Forensic Appraisal and Forensic Document Analysis, especially if your mortgage is less than 3 years old. Call us now to start the process at 800-540-EXAM (3926).
LOAN MODIFICATION PERILS
According to the latest data from the Federal Reserve "approximately 3 percent of the seriously delinquent borrowers received a concessionary modification in the year following their first serious delinquency, while fewer than 8 percent received any type of modification," at all! Nonetheless, everyone is hawking loan mods these days. It’s a scary thought that people with no legal experience are pushing people into loan modifications without any discussion of a forensic loan analysis or forensic appraisals. The scariest part, when you modify a loan, you essentially WAIVE any claims you have to go after the lender! Why is this important, because the majority of loans closed in this century have problems that the borrower could use against his lender! In fact, and in most cases, lenders are holding nothing but worthless or at best questionable mortgage instruments. If you sign up for a loan modification, you are in essence validating an alleged debt that you most likely
don’t have
anymore because it was destroyed in the securitization process. Click Here To Read About Loan Modification Scams
Did you know that even though a homeowner MIGHT be saving money by having a reduced monthly mortgage payment, these savings ARE NOT forgiven. The amount of possible savings is actually SET ASIDE as a ballon that the homeowner MUST PAY upon sale, refinance or the maturity of the loan. Also, all arrears up to the time of the modification offer is made, are capitalized into the balance of the modifed loan. they too, are not eliminated. So, even though you home may not be "under water" today, your home most likely will be after any modification.
Furthermore,
a Loan Modification company cannot guarantee the distressed borrower that their
submitted documents for the modification will not be used against them by law
enforcement in the future. Prosecutors will be going after borrowers for
participating in fraud by overstating their true income. What this does is make
any submission to the lender vulnerable unless you have the attorney-client
privilege over your submission. (The same is true if a borrower submits
financial statements to obtain a Deed In Lieu of Foreclosure or Short Sale.)
Therefore, a Loan Modification should be
a last resort- a legal maneuver not something done by Joe the Modifier. Click Here To Read About Prosecution Of Borrowers.
Avoid Foreclosure! Be aware that if you allow
your house to go into foreclosure, that might not be the end of your problems.
The bank will sell the house - probably at a low price. If the sale does not
pay off the loan, the bank can still come after you for the difference. You may
face debt collection for years to recoup the "deficiency" - the
amount the bank lost even after selling the house.
** FRAUD ALERT **
Although 'loan
audits' can be of substantial value to a homeowner, regrettably, most companies
providing 'audits' are not qualified to do so. Most of these so-called 'loan
audits' are performed and sold by persons with no legal training, who input
some data into the same software program that lenders were using as a compliance
checklist against federal regulations. The “audit” is a useless checklist of
the documents provided to the “auditor,” with no information about the legal
implications of the documents. It's that old adage on computer software:
'Garbage-in, garbage-out.' Think about it: If the software didn't find the
mortgage errors when the lender used it, how is it going to find the errors
when Joe the Auditor uses it? We do our forensic appraisals and document
examinations mostly for attorneys. They are going to spot a garbage report a
lot quicker than a layperson. We have to provide services that withstand the
scrutiny and demands of a trained legal eye. You need a specific and unique
legal knowledge to do a loan audit; a ten-minute software audit is no
substitute for three years of law school. We're legal professionals looking for
things that software can't find, besides, we know what to look for” Moreover,
when attorneys compare our “audits” with other so-called audit companies they
find the other “audits” to be “useless,” and a ticket to sanctions
CALL US NOW:
1-800-540-EXAM (3926)