loanmodificationsandiego.info

What May Cause A Loan To Be Illegal

Unaffordable Loan- You were put into a mortgage and your income is not able to pay the monthly loan payment because your loan payment is adjusting higher.

Making loans based only on the value of the collateral without regard to the borrower’s ability to repay the loan.

Bait And Switch- Were you promised a low interest rate, but then you ended up with a higher rate at closing?

Failure To Disclose Loan Terms- Federal and State laws require creditors disclose the terms of the loan to borrowers, and when those terms are not disclosed or are inaccurately disclosed these terms are in violation of the law.

If you were a victim of any of these predatory lending violations :

Misrepresentation
Fraud
Miscalculation
Mistake
Deception
Non-Disclosure
The T.I.L.A. “Truth In Lending Act”
The Real Estate Settlement Procedures Act
Federal and State Lending Provisions

You may be entitled to get back all of your origination fees “points” plus interest.  Have your loan restructured at no cost to you through a loan modification San Diego homeonwers program.  Obtain a better rate, new loan terms and lower payments.

To determine if you have any violations with your home mortgage loan you should have a qualified attorney who specializes in the loan mortgage audit process also know as a forensic loan audit.  I can offer some great recommendations if you need a loan audit completed on your loan and the attorneys will offer this Free of charge to qualified candidates.  Drop me a post or an email at mikekench@gmail.com for more details.

Publisher- Michael Kench Uncategorized Avoiding Foreclosure, Bait And Switch, Borrowers, Collateral, Creditors, Disclosure, Estate Settlement, Foreclosure California, Foreclosure Prevention, Home Mortgage Loan, Interest Rate, Loan Modification, Loan Mortgage, Loan Payment, Loan Terms, loan-modification-san-diego, Miscalculation, Misrepresentation, Modification Request, Non Disclosure, Origination Fees, Predatory Lending, San Diego Ca, Settlement Procedures, State Laws, Truth In Lending, Truth In Lending Act

If you were a victim of predatory lending, then you may qualify to have your loan restructured through a loan modification San Diego homeowners loan program.

The best way to determine if you were a victim is by having a Mortgage Audit done on your home loan. Your mortgage lender or broker may have failed to follow the rules under the Truth in Lending Act, the Real Estate Settlement Procedures Act or other federal and state lending regulations  and statutes.  If you were a victim of these home loan mortgage procedures you may be entitled to the return of a portion, or all loan fees and interest and a restructure of your loan under a loan modification San Diego modification program.

If you have  received a “Notice of Default,” or your home is in foreclosure, or you are in a position where your loan is becoming un affordable due to rate and payment increases.  Having a mortgage loan audit by a qualified professional, preferably an attorney who specializes in the mortgage audit process may save your home from foreclosure and may also provide you with a restructered  loan modification San Diego program to lower your payments, loan balance, or loan terms.

Most homeowners are unaware of the Laws that are in place to protect borrowers from violations in the law or Fraud.  And without a professional eye are unaware of these violations in their mortgage loan contracts.

These May Have Happened To You!

Were you charged high closing costs (Points and Fees?)
Did you have to provide proof of Income or did you just “state your income?” or did your loan agent or broker put a number in your application to qualify you?
Were all of your loan documents completely filled out prior to signing, or did you sign any blank documents?
Did your loan have any prepayment penalties?
Did you receive copies of all loan documents upon signing or loan closing?
Did the terms of your loan change at the last minute prior to signing
Were all loan fees or charges disclosed and properly explained to you in a clear, conspicuous and accurate way upon closing?

These are just a few areas that a mortgage loan audit would uncover violations in the law.  More information to follow.

Publisher- Michael Kench Uncategorized Array, Avoiding Foreclosure, Estate Settlement, Foreclosure California, Foreclosure Prevention, Home Loan Mortgage, Homeowners Loan, Loan Agent, Loan Balance, Loan Contracts, Loan Documents, Loan Fees, Loan Modification, Loan Terms, loan-modification-san-diego, Modification Request, Mortgage Lender, Mortgage Loan, Notice Of Default, Payment Increases, Prepayment Penalties, Professional Eye, Proof Of Income, San Diego Ca, Settlement Procedures, Truth In Lending, Truth In Lending Act