(EMAILWIRE.COM, November 05, 2009 ) Detroit, MI – Forensic loan audits uncover evidence of unfair lending practices which is a large part of the blame for the increase in foreclosures over the last few years. Borrowers facing foreclosure have discovered a new tool that they can use to retaliate against unfair lending practices while negotiating loan modification.

A forensic loan audit is a complete examination of one’s mortgage loan closing file to determine if any Truth in Lending laws were violated. According to the Truth in Lending Act, even small mistakes can be grounds for a lengthy and costly lawsuit against the lender.

Forensic loan audits were only available to large banks and lending institutions until recently. Lending institutions would use the service to determine their own exposure to risk and legal liability when purchasing mortgage loans. Now the service is available and affordable to distressed homeowners.

Reputable loan modification companies perform forensic loan reviews to assist borrowers with the loan modification and negotiation process. Nearly 80 percent of mortgages reviewed contain violations from unintentional mathematical errors to unethical practices, fraud and misrepresentation. These errors could result in the borrower being awarded a refund of all finance charges, closing costs and interest payments since the origination of the mortgage.

Servicers and lenders are compelled to negotiate mortgage loan modification when errors are discovered by a forensic mortgage review. Forensic mortgage examinations are not meant to be a threat to the lender; however, a lender can face an expensive and lengthy lawsuit if they refuse to negotiate loan modification if errors or fraudulent practices are found.

My Mortgage Auditor is the industry leader in forensic auditing and mortgage modifications to help people keep their homes. Their goal to help homeowners, attorneys and loan consultants negotiate a winning solution for all parties involved. http://www.mymortgageauditor.com serves consumers in Oakland County, Southfield, Pontiac, Royal Oak, West Bloomfield, Farmington Hills, Wayne County, Detroit, Dearborn, Canton, Livonia, Westland, Macomb County, Sterling Heights, Warren, St. Clair Shores, and neighboring cities and communities.

Contact

Nichole Jackson
County Loan Modification
25900 W. 11 Mile Road; Ste. 220
Southfield, MI 48034
877-218-0049
info@countyloanmod.com

This press release was submitted by Right Now Marketing Group, LLC

Contact Information:
My Mortgage Auditor
Nichole Jackson
Tel: 877-218-0049
Email us


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