Facing Foreclosure? Turn The Tables On Your Bank

What's Hot


How to Cut the Cable TV Cord in 2017Family

8 Major Freebies and Discounts You Get With Amazon PrimeSave

8 Creative Ways to Clear ClutterAround The House

Study: People Who Curse Are More HonestFamily

This Free Software Brings Old Laptops Back to LifeMore

Pay $2 and Get Unlimited Wendy’s Frosty Treats in 2017Family

The 3 Golden Rules of Lending to Friends and FamilyBorrow

6 Reasons Why Savers Are Sexier Than SpendersCredit & Debt

Resolutions 2017: Save More Money Using 5 Simple TricksCredit & Debt

Porta-Potties for Presidential Inauguration Cause a StinkFamily

Protecting Trump Will Cost Taxpayers $35 MillionFamily

7 New Year’s Resolutions to Make With Your KidsFamily

5 New Year’s Resolutions That Will Pay Off 10 Years From NowCollege

10 Tasty Alcohol-Free Drinks That Adults Will LoveFamily

10 Simple Money Moves to Make Before the New YearFamily

Could Your Pet Benefit From Marijuana-Laced Treats?Family

With more and more homeowners falling behind on their mortgages, many are seeking help in unconventional ways.

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.

Stacy Johnson

It's not the usual blah, blah, blah

I know... every site you visit wants you to subscribe to their newsletter. But our news and advice is actually worth reading! For 25 years, I've been making people richer without making their eyes glaze over. You'll be glad you did. I guarantee it!

💰🗣📰

Read Next: Tax Hacks 2017: Don’t Miss These 16 Often-Overlooked Tax Breaks

Check Out Our Hottest Deals!

We're always adding new deals and coupons that'll save you big bucks. See the deals to the right and hundreds more in our Deals section.

Click here to explore 1,880 more deals!