Forensic Loan Audits in California

What is a loan audit?

In the state of California right now many homeowners and their families are having a tough time paying their bills, making ends meet, and paying their mortgages.  Loan modification is one option to prevent your home from being foreclosed upon.  One of the tools your attorney uses to help obtain the loan modification is called a loan audit, or forensic (used in the investigation and establishment of facts or evidence in a court of law) loan audit.  It is a thorough, detailed report that discloses violations that your lender or broker committed when the loan was originally funded.  It will reveal any acts of loan fraud or predatory lending infractions. 

A loan audit is one of the first actions a smart attorney takes when he wants to pursue a loan modification for you.  A San Fernando Valley bankruptcy attorney from the Law Offices of John Ribarich, specializing in foreclosures and loan modifications, knows that a properly done loan audit provides leverage to help persuade your lender to act in your favor when negotiating better terms for your mortgage loan, prevent foreclosure and help keep you in your home.

An Illegal Loan in Unenforceable

If a loan audit is done correctly, in the vast majority of cases there will be Real Estate Settlement Procedures Act (RESPA), Truth in Lending Act (TILA) and/or predatory lending violations.  If your loan is found to be illegal, then any foreclosure arising from that loan is, therefore, equally unenforceable.  If it is found that your loan may be illegal and foreclosure on your home has already begun, that process will be halted when litigation starts on that matter, as will your mortgage payments. 

Based on the findings of the audit, you may possibly be able to file a lawsuit against your lender or mortgage broker.  Our firm has conducted many loan audits on behalf of clients who were in danger of losing their homes.  We may be able to help you modify your loan so your monthly payments are affordable and you longer have to worry about the threat of foreclosure.

Contact a San Fernando Valley Bankruptcy Attorney if you need help to be able to keep your home.