Forensic Loan Audit to Find Errors in Loan Documentation Business
03/20/2010

For many people making mortgage payments on time or in full is becoming difficult.

Online PR News – 20-March-2010 – – Rancho Cordova, California, March 16, 2010 – For many people making mortgage payments on time or in full is becoming difficult. It is better for them to know there are options available to them. US Loan Auditors can help them determine if foreclosure is the inevitable result of a predatory loan.

There are specific laws and guidelines that must be followed when a lender underwrites and funds a mortgage. If the lender failed to stay within those guidelines set by federal and state lawmakers, a US Loan Auditors court-ready audit can help expose those violations. Its loan auditors will perform a forensic loan audit to review all loan documents and then determine whether the borrower has fallen victim to predatory lending. There is a good chance that a predatory lender took advantage of them. However, it’s likely that US Loan Auditors can help borrowers get out of this unfortunate situation by performing a forensic loan audit.

Close to 3% of American homeowners are currently facing foreclosure. One in ten homeowners is behind on their monthly payments. Predatory lending is largely responsible for this grim reality. Trillions of dollars in adjustable rate mortgages will reset in the next two years. Research indicates that over 80% of adjustable rate mortgages have violations that occurred in the loan documentation or during the loan origination process.

To not get stuck in an adjustable rate mortgage one should contact US Loan Auditors to do a forensic loan audit. The relentless downward slide in the real estate market has left nearly 1 in 6 homeowners upside down on their mortgages. This means that they owe more to their lenders than their homes are worth, which raises the likelihood of foreclosures or defaults. With a loan audit one can better understand the legal leverage needed to get out of a bad loan.

With a Forensic Loan Audit one can check into the validity of a loan. It reveals the specific laws and guidelines that were violated in the origination of a mortgage so next time no one needs to be a victim. Loan fraud can take many forms. A common theme is that the lender's representative will falsify documentation or information, which can happen for a variety of reasons. Document forgery and signature forgery are other major forms of loan fraud. If your home did not initially appraise for what you expected, but a much higher number came in later, that is an example of “overstated value” fraud. There are many other kinds of mortgage fraud which result in bad loans and many foreclosures.

About usloanauditors.com:

US Loan Auditors does an accurate and professional analysis of your loan scenario and loan documentation. The analysis is done by mortgage underwriters with over 75 years combined experience. After this they provide a comprehensive report of the factual findings and potential Federal, State, and Local violations that may have occurred in the loan documentation.

For more information visit: http://www.usloanauditors.com

2882 Prospect Park Drive, Suite 350
Rancho Cordova, CA 95670
Direct Phone - 916-256-3991
Fax - 916-256-1077