If you've closed a loan during the run up to the housing bubble, say from 2001-2007, there's a good chance that you have problems in your mortgage documents. By problems, I mean there's likely evidence of predatory lending or violations of Truth In Lending (TILA) or the Real Estate Settlement Procedures Act (RESPA) within your documents.

I've audited quite a few loans and I've seen violations of these laws in some form in everyone's paperwork. Recently, I uncovered evidence of appraisal fraud in a client's paperwork.

Homeowners, do your homework before hiring a loan modification company. Get a loan audit before you retain an attorney or hire a loan modification company and understand your options. If you sign a loan modification agreement, you waive any claims you might have under TILA and RESPA, which might entitle you to an even better modification than you could have obtained through an loan modification company.

If you have any questions or need a loan audit, please contact me at christine@desertedgelegal.com.

Thanks,
Christine