Free Mortgage Document Review

Mortgage Audits Expose Lender Violations in Michigan, But Do They Work? The answer is: it depends…

Our goal is to help Michigan homeowners who have been victimized by illegal mortgage practices such as predatory lending, fraud, bait and switch tactics, unfair and deceptive practices, and many more types of violations. We understand that homeowners in distress are reluctant to spend precious money for a Mortgage Audit or to hire an attorney without first knowing that violations DO EXIST. That is why we have decided to offer a FREE Mortgage Document Review for qualified homeowners. There is absolutely NO COST or obligation for this service.

Why would we do this? We know from experience that over 80% of mortgages we review contain at least one serious violation and that most have 3 or more. Even the FDIC acknowledges that over 80% of the mortgages they reviewed had at least one violation. Our Free Review (not our normal audit) is intended to provide assurance to prospective clients that violations exist BEFORE they spend any money to retain an attorney. When violations from the free document review are exposed they can hire an attorney with confidence. An audit can provide leverage to help obtain the desired results (such as a loan modification or short sale with a release of the deficiency).

There are many companies that are offering Mortgage Audit Services. Many offer “audits” that simply use a software program to print out a limited report that is not helpful for most people. These audits typically look for violations of the Truth In Lending Act (TILA) or the Real Estate Settlement Procedures Act (RESPA). You should know, however, that most TILA & RESPA violations have a 3 year Statute of Limitations. This means that even if violations exist there may be no cause of action for these violations if the mortgage is more than 3 years old.

You should also know that it is illegal for any company that offers “Mortgage Assistance Relief Services” (such as Loan Modifications or Mortgage Audits) to collect any advance fees for their services. If you are considering having an audit done and the company asks for money “up-front”, you should avoid them because they are acting illegally.

The only “party” that is allowed to collect any advance fee is a licensed attorney. This means that a homeowner who wants a mortgage audit done must first retain an attorney. The attorney then determines whether a mortgage audit is advisable. We will have a free consultation with your attorney to discuss the violations we exposed and the proof to support our findings.

These changes are mandated by the MARS Regulation which is part of the Frank-Dodd Act. It is designed to protect homeowners from being ripped off or scammed by illegitimate businesses who make false representations. While we support the elimination of the “Scammers”, it is important to realize that a reputable Forensic Mortgage Audit can be one of the best weapons for homeowners who have been victimized. An “unintended consequence” of these new regulations is that homeowners can no longer pay legitimate Forensic Mortgage Auditors for their services. The homeowner now has an extra layer of expense because they must first retain an attorney who in turn can hire the Mortgage Auditor as an Independent Contractor.

That is why we will do your initial Mortgage Document Review for FREE, providing that the subject property is located in the State of Michigan. You will know that violations exist BEFORE you spend any of your money or hire an attorney. To learn more, either call us at (734) 756-6050 or email the following information and one of our auditors will contact you.