Facing Foreclosure? Turn The Tables On Your Bank

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MONEY TALKS NEWS – They are the words we dread hearing, tax audit! But, there’s another type of audit happening more and more these days that strikes not fear but hope into the hearts of hapless homeowners.

Sylvia Alayon with Consumer Mortgage Audit Center tells Money Talks News, “A mortgage audit is a review of the documents that were presented to the consumer at closing, and it reviews for accuracy, content and also calculations”.

Auditors make sure every ‘I’ is dotted and every ‘T’ crossed. If not, your lawyer now has leverage with a lender to convince the lender to modify your mortgage.

“Typically what we will find is that the information that is required to be given to the borrower was not. So, this borrower entered into a transaction without completely understanding what they were getting into” Alayon said.

BREAKING IT DOWN:

While this industry is new, business is booming. There are at least two reasons:

  • The number of desperate homeowners trying to push back against lenders.
  • Second because there’s no shortage of problems for these auditors to find.

“We’ve done about a thousand loans and we’ve found issues on all of them.” Alayon says with a smile.

In other words, the mortgage documents are so numerous and so complex, it’s almost impossbile not to find a problem. Consumer Mortgage Audit Center doesn’t deal direct: they work for lawyers. How much? About $600.

BOTTOM LINE: If you need help with your mortgage, especially if you suspect you’ve been a victim of mortgage fraud or other shenanigans, and your lender isn’t listening. Talk to a lawyer.

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Comments & discussion

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  • Janis Horner

    Hi,
    I sell real estate in the Branson/Kimberling City area and have since 1992. During a closing, the buyers are required to sign a paper stating that if anything was done incorrectly in the papers they signed, they will agree to do them over. This is probably the banks’ way of CYA!!

  • Janis Horner

    Hi,
    I sell real estate in the Branson/Kimberling City area and have since 1992. During a closing, the buyers are required to sign a paper stating that if anything was done incorrectly in the papers they signed, they will agree to do them over. This is probably the banks’ way of CYA!!

  • Kimberly Jones

    Now this is what I’m talking about! We can provide homeowners with a Forensic Mortgage and Appraisal Audit that they can use to do just that “turn the tables on their lender!”
    Kimberly Jones
    kim@mortgagefraudexaminers.com

  • BJ

    Consumer Mortgage Audit Center another scam software audit company. Lawyers who know what they’re doing won’t use software audits!

  • BJ

    Consumer Mortgage Audit Center another scam software audit company. Lawyers who know what they’re doing won’t use software audits!

  • Juan Villarreal

    This is great news! While these banks just make it impossible to deal with, as a Real Estate Broker, I will contact our organization MLS/Commission and NAR to advocate on our behalf to offer these services to clients whom may qualify!

    This is very beneficial especially when dealing with a “loan servicing” agency whom I think have a conflict of interest.

  • Juan Villarreal

    This is great news! While these banks just make it impossible to deal with, as a Real Estate Broker, I will contact our organization MLS/Commission and NAR to advocate on our behalf to offer these services to clients whom may qualify!

    This is very beneficial especially when dealing with a “loan servicing” agency whom I think have a conflict of interest.

  • Kimberly Jones

    Now this is what I'm talking about! We can provide homeowners with a Forensic Mortgage and Appraisal Audit that they can use to do just that “turn the tables on their lender!”
    Kimberly Jones
    kim@mortgagefraudexaminers.com