Forensic Loan Audit: Can it Stop Foreclosure? Do I Need One?
By Anthony Hayes
Tila Solutions is an Audit Company. They investigate mortgages for homeowners to determine if the bank violated any of the federal laws that protect homeowners. Let’s take a moment to discuss what a Forensic Loan Audit is, and to see if you need one. Ultimately, if you have a predatory loan, you will need a Forensic Loan Audit. If you feel that the lenders mislead you or possibly gave you a loan that could contain fraud then you will want to get your loan investigated.
A Forensic Loan Audit, also known as a Forensic Loan Review or a Mortgage Audit is an in-depth investigation of the loan that your lender gave you. The investigation is done to see what Federal Laws were violated by your bank when they prepared the loan they offered you (or your broker to give to you).
The Federal Laws that Tila Solutions Examiners work with are those laws that protect you as a borrower. More than likely when you signed your loan documents you heard or saw reference to TILA, RESPA, HOEPA and ECOA. Those laws were passed to protect you and prevent you from getting into a loan that you don’t fully understand, and that you won’t be able to pay back, which is often known as a predatory loan. But those are not the only things that Tila Solutions (Tila) looks for when their forensic examiners investigate a loan. They look for fraud, and they investigate the loan to see if it complies with other federal regulating bodies and guidelines. The fraud they look for is fraud committed by the banks.
Why do homeowners constantly get turned down by the bank for a loan modification, and why can a forensic loan audit put an end to that? Banks are in the business of making money. The bank is not interested in giving you a lower payment, just because you have struggled financially in some way. They are only interested in seeing the loan they gave you “perform”. A performing loan is a loan that has a monthly payment coming in on time. There is little risk to the bank and a nice profit for them as well. This is all they want, and sadly, if you are not going to “perform”, then the bank will calculate the risk of modifying your loan against other methods of getting money.
Most often bank calculations will show that the bank can make more money or experience less risk (or both) if they do not give you a loan modification. Normally that means you will be in foreclosure and losing your home. The Forensic Loan Audit is your most powerful weapon to show that foreclosure is no longer a legal or viable money-making option for the bank.
And that is why you need to get Tila Solutions to conduct a full forensic loan review for you. In short, the bank loses much of its power and ability to travel down other money-making routes if the loan contains federal violations of TILA, RESPA, HOEPA, ECOA or if fraud is found when the investigation is conducted. Tila Examiners will go through your loan with a fine tooth comb looking for all the federal violations.
It is important to keep this in mind: Once the Forensic Loan Audit is completed, something effective must be done with it. Banks will tell homeowners it makes no difference (sort of reminds you of a criminal pointing out that the cops can’t stop him) but don’t believe it for a minute. It is just as important that you have the ability to use them correctly. That is why Tila Solutions offers a free service to help negotiate on your behalf.
Tila Solutions has a homeowner hotline that you can call. Their trained consultants can help you determine if your loan is showing any signs of predatory lending. They can help you determine if your loan is in need of a Forensic Loan Audit.
Ultimately, you should contact a Tila Consultant if you have been turned down for a loan mod, or if you are nearing or are in foreclosure. Tila Consultants can also help you if you are still current on your loan or if you have investment properties and the bank has turned you down for a loan mod. A Forensic Review can help with these types of loans as well.
The Tila Solution Website contains a wealth of information – go to http://www.tila-t.com to learn more about a Forensic Loan Review and to learn how to take advantage of the free negotiation service offered by Tila Solutions. You can call a Tila Solutions Consultant at 1 — 3 0 7 – 4 5 9 – – 0 2 3 2.
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