Statistics are still showing that thousands of homeowners are still not being approved for loan modifications they desperately need. This blatant refusal to give people loan modifications is destroying the housing industry.
It doesn’t make any sense how a bank will issue a loan to someone and then deny them a loan modification to lower their payments, often listing the reason as the homeowner “doesn’t make enough money.” That’s right, these predatory lenders are refusing to approve loan modifications that could lower your interest rate, monthly payment, and potentially save a loan from going into default and foreclosure because the borrower can no longer afford to make their current payments –because they don’t make enough money.
Here’s the really sad part that most homeowners don’t know: They didn’t make enough money when the bank gave them the loan. The bank knew this, but didn’t care.
It is time to say enough is enough. These predatory lenders have been taking advantage of hard working Americans for long enough. Of course banks are going to deny approval of aloan modification – there is no money in it for them! Why would they want to help you lower your payments and save money, when they are already profiting greatly from what the original predatory loan is bringing in for them? You don’t have to put up with a bank refusing to approve a loan modification anymore.
If you obtain a forensic loan audit on your mortgage, this will show that you are beyond the shadow of a doubt the victim of a predatory loan. Once you have the evidence of a forensic loan audit on your side, you will see that banks are suddenly much more willing to negotiate with you and approve your loan modification. You could even end up with the bank refunding you for the interest you were paying under the original terms of the predatory loan.
If your home is in foreclosure, a securitization audit is a great option to help you stop foreclosure and keep you in your home. Over the last ten years, approximately 85% of all mortgage loans have been securitized, and more often than not they have been securitized incorrectly and illegally. A securitization audit will determine if the bank that is attempting to foreclose on your property even owns the correct paperwork to do so. Many times, they do not, making it an illegal foreclosure.
Using these tools you can fight back against the predatory lending schemes of the big banks and get the loan modification you deserve. Having a forensic loan audit or a securitization audit on your home loan will give you the evidence you need to achieve a successful loan modification for your home.
