LOAN AUDIT

What is a Forensic Loan Audit?

A forensic loan audit, sometimes called a TILA audit, or a loan audit, is a process whereby an auditor reviews a borrower’s mortgage loan documents to determine if the documents are in compliance with the Truth In Lending Act (“TILA”), the Real Estate Settlement Procedures Act (“RESPA”) and other related laws.

If the documents are NOT in compliance, the borrower has several remedies depending on their situation. Recission of the loan, (meaning to reverse the transaction and make it as if it never happened), is a possibility, as is pursuing the lender for damages for each TILA/RESPA violation.

Loan audits are increasingly being used to pursue lenders because many homeowners will not qualify for a modification under the hardship guidelines. Additionally, in many states such as California, getting a short sale approved by the lenders has become increasingly difficult.

Free Ebook “Stop Foreclosure Now”
By: Christine Springer, MA

The housing crisis in this country has impacted millions of people. Unfortunately, many people will not qualify for a loan modification under the current hardship guidelines with each lender. In addition, it’s difficult, if not impossible, to get short sale approved by the banks.

Without many other options, homeowners are increasingly looking for other ways to get the lender to negotiate so that they can remain in their homes. Loan audits are a great tool to look for predatory lending patterns in your mortgage documents. In fact, if you’re in foreclosure and $35 or more is found in your documents, you have a defense to the foreclosure action.

Get your FREE copy of “STOP FORECLOSURE NOW, STAY IN YOUR HOME!” A comprehensive guide to using loan audits as leverage with your lender to achieve a successful and equitable loan modification.

For more information about Loan Audits please contact Christine Springer, MA

Desert Edge Legal Services, LLC
e: Christine@DesertEdgeLegal.com
p: 602-350-2151