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Loan Mod or Work Out
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      Forensic Audit  

    A Forensic Audit is conducted to determine if there were any violations of federal law in a mortgage loan.  It involves the examination of a homeowner’s loan documents to determine if the loan terms were accurate, truthful and met the requirements of the applicable federal statutes. 

    If violations are found, the homeowner may be eligible to rescind the loan.  At the very least, any violations can be used as a bargaining instrument to negotiate a loan modification with the lender who might not otherwise be willing to negotiate with you

 
      Loan Modification  

    A loan modification is when the lender agrees to modify any of the terms of the original note, which may include reducing the interest rate, extending the term of the loan and reducing the monthly payment.

    Often the delinquent payments can be reduced, forgiven or added as a balloon to the end of your loan. In addition, many lenders are even allowing for applications of “Short Refinances” or “Short Pay Offs” which will allow you to get a new loan for less than what you may owe and the lender can forgive the difference.

    Negotiating a loan modification with your lender can be a frustrating and arduous process.   The lenders usually require significant personal financial information from homeowners as well as supporting documents.  We can help you navigate through this often complicated process.

 
      Deed-in-lieu of foreclosure  

    This is a process in which the homeowner voluntarily gives his/her property over to the lender, after defaulting on a loan, in exchange for the lender releasing the obligations under his/her mortgage.  After the lender obtains a deed in lieu of foreclosure, they are required to stop foreclosure proceedings. 

    The deed in lieu of foreclosure has advantages for both the homeowner and the lender.  The homeowner avoids having to go through the foreclosure process publicly and is protected from incurring more damage to his/her credit score than a foreclosure would. The lender saves a lot of time, resources and money.  The repossession or foreclosure involves them hiring an attorney and the process can take months, even years, which costs the lender money