Comments on: Your Loan Documents May be the Secret Key to Obtaining a Loan Modification

By: DA Levy

DA Levy — Thu, 12 Nov 2009 04:50:24 +0000

It’s a lengthy, mind-boggling procedure but try to get through the NACA.com. Free services. They can forestall foreclosure while you are waiting for the bank to make a decision. Because my unethical, incompetent lender stopped applying payments to my loan, I have held the money in a suspense account. Unless they deal fairly, they will never see any of that money. Ask them to provide the note — original copies, BOTH sides. This is key. Loans are sold so often, generally the lender cannot prove who owns the home.

By: freedspirit

freedspirit — Fri, 06 Nov 2009 22:28:58 +0000

Chris,
I don’t have a “Loan Audit Pro” – I’m SO tapped out in my head handling this mentally and emotionally (and my husband’s mental/emotionally illness) that I need a professional to handle this for me.
I’m desperate and NEED A CREDIBLE referral. Thanks!

By: chris taylor

chris taylor — Fri, 06 Nov 2009 13:55:12 +0000

do you have an inexpensive loan audit pro?

By: freedspirit

freedspirit — Fri, 06 Nov 2009 00:18:31 +0000

Do you have a referral for a Loan Audit professional?
Need ASAP! Thanks!

By: Jennifer

Jennifer — Sun, 25 Oct 2009 17:33:15 +0000

We are in the position now of losing our home. I am currently listed on the mortgage, and have taken over the mortgage after my mom’s passing in 2004. Originally it the loan was for 165,000 and the remaining balance is 118,000 but with the temporary paycut my husband has taken, medical costs and a I’ve been out of work since the birth of our daugther. We have no family to help with watching our daughter so I’ve been searching for employment that will cover the cost of full time childcare and the cut in pay we were face with, but have had no luck for 3 months now. I’ve tried on several occasions to talk with the mortgage co, which was Countrywide and is now BOA, but we fall short of the modification on our Freddie Mac loan by under 200 dollars and the refinancing would only knock 100 off, plus we would be faced with the costs and fees of the refinance. We do not wish to lose our home and we know if we could find some help, temporary help that is, we could make it work until our work situation improves. I have always had good credit and with the medical issues we are facing we need to keep that in good standing. Between the mortgage, association dues and what bills we have remaining after making major cutbacks along the way it there is no other way for us to save the home.

I had to go through probate to obtain the home, but had kept paying on the mortgage from her date of death on. We had every intention of staying here until we could save for a single detached family home. The bank never did anything or reviewed the loan after I took over the mortgage and I’m not sure what we an do now or even if we can afford a forensic home loan audit. What are our options and how much does one usually face when doing and audit, because I know I do not have the right stuff for doing it myself at this point in time. Any help would be greatly appreciated and very needed.

By: WAMU GREED 2 VIGINIA

WAMU GREED 2 VIGINIA — Sat, 24 Oct 2009 18:23:47 +0000

In similar boat to See WAMU GREED post above. I am in the same boat and reset this month. Good Credit if you reply soon. Only want aggressive willing to go for rescission. Need forensic audit by lawyer in VA or metro area.
Need to know how much income needed shown on W2 to qualify. TILA and RESPA violations are likely. Have loan documents from last refi/ cash out. Call 571-332-2558 ask for Clint.

By: MICHAEL MORRISON

MICHAEL MORRISON — Sat, 17 Oct 2009 01:08:49 +0000

Ihave applied to suntrust for a modification of my loan. i am now 8mths behind and have received the foreclosure notice for which i have filed a response with the court and awaiting a response.
suntrust has now just uploaded my financial and are under review for a decision. i am a retail store owner and have some income coming in also have saved about 40% of my deliq balance.
what are my chances that i will get a good modification. this has drag my credit down about 100pts. i have waited a long time and now is praying and hoping i will be able to keep my home
what should i do?

By: Mr. Sharaf

Mr. Sharaf — Wed, 30 Sep 2009 01:09:45 +0000

Hello Karol,

If you are going to participate in the loan modification or mortgage auditing business , then the first place to start is to make sure you have the appropriate license. Come January 1, 2010 all mortgage broker will be classified as National Loan Originators. Whether you work for a lender or are an independent mortgage broker you will need to be licensed. W2 employees of a financial institution are exempt from this requirement for another term before having to be licensed, independent contractors must be licensed by the new year to comply with federal regulation.

This will help differentiate you, market your understanding of the industry and open new opportunities.

Feel free to email me if you would like to engage in further conversation. Thank you for your consideration and best of luck!

Mr. Sharaf

By: Jose

Jose — Tue, 29 Sep 2009 07:33:48 +0000

There is one thing that needs to be corrected throughout all the writings in your blog. It is PRINCIPAL, not PRINCIPLE that is the correct spelling, as in reducing the principal. You have been consistent with this mistake. And for someone who claims to be an expert in this field, I hate to say it – it is embarassing !

By: Karol

Karol — Mon, 28 Sep 2009 16:12:51 +0000

I am a former loan officer w/ 15 years’ experience. I live in Taos, New Mexico and would like to audit loan modifications. Any idea how to get started w/ a company who originates these forensic audits and sends the paperwork to me for a fixed fee to be audited?

Thanks