Forensic loan auditors are utilized in connection with foreclosure matters. Frequently, forensic loan audit scams emerge in connection with home foreclosures. This problem has been steadily increasing, coinciding with the deceasing sales and the problems in the housing market. When distressed homeowners seeks to avoid and defend a legal foreclosure of property, a forensic loan auditor will perform a genuine audit. A genuine auditor will review findings, loan documents, signatures, parties and dates on the documents, and obtain a history from the homeowner.
Forensic Loan Auditing and Costs
If the auditor finds lender violations in the audit, these violations can help the homeowner defend against the foreclosure in court. A true forensic loan audit can cost anywhere between $400.00 and $1500.00, depending upon the level of work involved and the complexity of the matter. The findings of the auditor are used by foreclosure attorneys in designing a defense to the foreclosure action.
Forensic Loan Audit Scam
Forensic loan audit scams involve fraudulent entities which do not perform genuine forensic audits. These auditors rely upon standardized computer programs and do not examine the particular details of the case. There is neither a review of the specific documentation, nor is there a sincere effort to obtain the loan history. Ultimately, these audits result in an unreliable, useless audit report which will not hold up in court.
How the Scam Works
A forensic loan audit scam occurs when a company offers to perform an audit to the homeowner. Usually, the forensic loan scam is a forensic mortgage audit scam, where the auditor seeks to audit the mortgage loan for any loan irregularities. Additionally, some scams involve promises of the company to perform an audit as well as promises to reduce the loan principal and avoid foreclosure. Recent forensic loan audit scams include email correspondence marketing efforts, as well as in person representatives showing up at the homes of distressed homeowners. The forensic mortgage loan audit is frequently done quite quickly and results in a simplistic document. The auditor simply plugs in numbers taken from the homeowner’s mortgage statements and basic loan documents in order to print out a basic report. In addition, no extensive supporting documentation is requested from the homeowner. Rather, the auditor relies upon basic loan information.
If you are dealing with a Forensic Loan Audit Scam problem, submit your case for a free case review from a Criminal Lawyer specializing in White Collar Crimes.
Legal Help from a Lawyer
An experienced foreclosure attorney will rely upon the forensic loan audit in order to provide a defense to your case. Therefore, it is crucial to obtain a legitimate forensic loan audit. If you are facing a foreclosure, you should consult with an experienced foreclosure attorney at the outset of the process. The attorney will be able to assist you in locating a reputable forensic loan auditor and guide you through the process. Moreover, the attorney will be able to thoughtfully craft an argument to try and help you avoid foreclosure.
