Because
financing and the ability to refinance your home is getting harder and
harder to come by, there is a growing segment of Americans that are
trapped in a predatory loan without
even realizing it. Predatory lenders such as Bank of America, JP
Morgan Chase, Wells Fargo and GMAC have been approving home loans that
they knew the borrower would not be able to keep up the payment on.
These predatory lending tactics have not only hurt homeowners with
higher than normal interest rates and hidden fees, but have also caused
foreclosure rates to rise.
If
deliberately approving home loans that they knew would go into default
and foreclosure wasn’t bad enough, it turns out that their predatory
lending practices also include blatantly violating state and federal
TILA and RESPA laws. It is estimated that over 80% of mortgage loans
currently have multiple levels of violations at both the state and
federal levels. High interest rates, excessive fees as well as
incomplete loan applications and incorrect dates are all examples of the
violations that forensic document reviews can find. Once these
violations have been identified, you have hard evidence that you were
the victim of a predatory loan. If you are working with a qualified loan modification attorney while trying to obtain a loan modification, the evidence that forensic document reviews, such as forensic loan audits
and securitization audits provide, can make negotiating with your bank
for a loan modification with a lower interest rate much easier.
Another
benefit of having forensic document reviews performed on your mortgage
is they will make sure that your home loan is in compliance with all
state and federal predatory lending laws such as TILA, RESPA, FHA, HDMA
and ECOA. You can also discover if your home loan has been securitized
and securitized correctly with a forensic document review that is called
a securitization audit. The large majority of home loans that have
been approved over the last decade have gone through this securitization
process, which means the loan can be sold and traded by the banks like a
stock or bond is. If this has been done correctly, there are no
problems. If it is done incorrectly, that means the bank that you
originally had your loan with quite possibly no longer holds the title
to your property. A securitization audit proves absolutely that there
has been wrongdoing on the part of a predatory lender.
If you are concerned that you are trapped in a predatory loan, you should not hesitate to contact Tila Solutions
to get you the help you need. For over a decade, Tila Solutions has
been looking out for the homeowner with their forensic loan audits and
securitization audits. If you need help stopping foreclosure, a Tila
Solutions Consultant is available by telephone at (702) 508-0335. Or
you can visit the Tila Solutions website at foreclosure loan.
This is your sidebar. The sidebar is a handy place for secondary information such as contact information. Replace this text with words of your own.