Short Sale Declined and Your Client Can't Do a Loan Mod? Now What?

Consider having your client find an attorney which specializes in forensic loan audits. This may give them the leverage they need to get a deal done or otherwise get out from under a predatory loan.

A mortgage loan, for most consumers, accounts for a large proportion of one's income. Therefore, it is imperative to ensure that the mortgage loan agreement has been drafted correctly in terms of both structure and validity. Even a minute error, on a lender's behalf, in carrying out the mortgage agreement could potentially cost the consumer thousands upon thousands of dollars. Unfortunately, many Home Equity Loans, Fixed Rate Mortgages that have been either refinanced, sold, or involve an escrow account, and Adjustable Rate Mortgages contain at least one error in its construction or calculations. Errors in loan documentation is more common than you think and a lender could be subject to serious financial damages for something as simple as a TILA (truth-in-lending) violation, miscalculation, or omission.

For additional information, please visit http://www.northwestcapitaladvisors.com