Wednesday, May 9, 2012

How Truth In Lending Auditors Can Help You With Your Loan Mod

All over the county people are agonizing as lending institutions are claiming to setup loan modifications for them, then still end up in foreclosure. At this point, most homeowners feel taken and are clueless on what the next steps should be to stop the foreclosure. Unfortunately, they often don't know that the foreclosure is very probably not a legally allowed tool for the lender- that is until they discover Truth in Lending Auditors.

Over the past decade, banks have issued loans that violate TILA, RESPA, HOEPA, and ECOA - the federal laws that protect borrowers. You can learn more about this by typing in tila2 in a search engine, which takes you to the Truth in Lending Auditors website. You can also learn about how 79% of the loans issued in the past decade contain fraud. Tila2 explains how a forensic loan audit will show the many laws the bank violated when they issued the loan. This information does much to shed light on how we became a nation in foreclosure.

Truth in Lending Auditors will educate property owners and make them aware of the actions they can take with their loan documents. A Forensic Loan Audit, done correctly, will give the lending institution a better idea of the real hardships of the loan. Homeowners truly feel empowered when they see these hardships are no longer their burden, but are now the bank's burden. The property owner signed what he thought was to be a good quality loan. It is so often the reason why consumers feel the word "scam" come to mind when thinking of their loan. They put a good amount of trust in the institution and now it is visible the lender violated the laws.

A predatory loan is best described as a loan that put a borrower on the road to foreclosure the moment he signed the documents. Homeowners are faced with trying to keep their home despite their predatory loan. Sadly, the Bank's loan preys upon them, and eventually consumes them.

Homeowners often tell Truth in Lending Auditors, as they learn more about these predatory loans that their bank's false reassurances of a loan mod really were just another scam. Is it any wonder that they would feel this way? Thousands of people have been told they would get a loan mod, only to then be told that they were not going to get the loan mod after all. The bank had chosen foreclosure instead. Usually because the bank decided that the foreclosure would make them more money.

Something important to know about Truth in Lending Auditors is that they have a fee service for consumers who have gotten forensics from them. Tila2 will help the borrower with negotiations for new terms on his loan using the Forensic Loan Audit. Consumers usually don't understand what they can do with the forensics, which is the main reason why the staff at Tila2 provides the service free of charge. When you show the lender the Forensic Loan Audit and all the predatory lending red flags in your loan, the lender often changes their mind and becomes more willing to negotiate.

Truth in Lending Auditors is an organization that can help you. The staff at Tila2 knows predatory lending practices can drain you and know how to prevent this from happening using forensics.

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