What Happens if There Are Violations in Your Loan? |
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| Once the loan examination determines that you may have been a victim of deceptive lending practices or any other type of mortgage compliance issue stated above, you have the leverage to fight your loan.
The course of action you should take is often dependent upon your current situation. If you are not seriously delinquent on your loan, but have difficulty making your mortgage payments, you may want to consider hiring us to negotiate a modification to your loan terms. A loan examination disclosing violations will certainly give you leverage you need to get the best loan modification. How Can a Loan Examination Help you Fight Foreclosure? The law gives a borrower a limited amount of time to act. If you wait, you may not be able to take action later. You need to act quickly. How Does the Loan Examination Work? Here is an overview of how the Loan Examination works: 1. We will conduct a Loan Examination which examines the mortgage documents you received upon the closing of your loan and look for TILA, RESPA and HOEPA violations by your lender. Once you receive your Examination, you will know what violations were committed in the handling of your loan (statistically, nearly every loan has at least some violations) You can then decide if you should proceed to seek a remedy. 2. Armed with our examination indicating the lender's violations, the Loan Modification law firm will negotiate with your lender for a reduced payment and even possibly a reduction of your principal balance.
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Loan Examination in Depth
Part 2 of 2