Stop Foreclosure with Forensics
Tila, LLC is a full service attorney-backed organization that has helped people for more than a decade resolve financial crisis.
This firm provides a number of services for their clients.
With homeowners who find that they are in over their heads, their first step is the forensic loan document review. With this review, they investigate your loan for any and all predatory lending practices that are clear violations of TILA, HOEPA, RESPA, ECOA as well as Fraud.
Statistics are showing more and more that the average predatory loan can carry up to 30 violations of your federally protected consumer rights laws. There are certain violations of these laws which may open the door to you being able to rescind your loan.
Across the nation, thousands upon thousands of homeowners are finding that they are in predatory loans. This is often the underlying cause of foreclosure.
Here are a few of the common indicators that can help you determine if you may have a predatory loan, but this is not a complete list!
– The age of your loan – Most predatory loans have been issued over the past 10 years
– Adjustable rate loans
– 100% financing (combination of 80/20 or 70/30, etc.) or no down payment-type loans
– Pre-payment penalties
– Balloon payments
– Stated income loans
– Questionable appraisals
– 30 year fixed rate loans can often be predatory
– Interest only or negative amortization type loans
– Loans with “nicknames” by the brokers: “Band-Aid Loans”, “Starter-Loans”, etc.
Sadly, because borrowers don’t know the true contents of their loan documents, they have no way to fight back. That all changes once they get a forensic loan document review completed. Where once they were hearing they had no hope of changing their circumstances, they are now hearing that not only is there much hope, but there numerous reports on file of people who have succeeded!
Once you get a forensic loan document review completed you are able resolve your financial crisis, get back in the driver’s seat and choose among many open roads.
Your ability to negotiate new terms through loan mod, short sell your home, or whatever else you may be considering are much greater and normally get accomplished much faster! More Importantly, when you have us investigate your loan, we will do your negotiations for you absolutely free.
PREDATORY LENDING: TILA, HOEPA AND RESPA VIOLATIONS:
The laws that govern predatory lending are, unfortunately, easy to skirt, especially when mortgage borrowers don’t know their rights. Predatory lenders seek out those people in vulnerable positions in particular, so if you were offered a loan that sounded too good to be true, it probably was.
Homeowners who have fallen behind on property taxes are often targets of predatory lenders who hope to push them into bankruptcy and foreclosure. Those homeowners who face medical bills or costly home repairs also often find themselves grasping for loans that carry high interest rates, inflated fees and terrible repayment terms.
You may have found out too late that unscrupulous lenders love to take advantage of those consumers whom they believe are not in a position to defend themselves, however, you do have certain rights.
Many of these rights fall under the Truth in Lending Act that was enacted in 1968. There are many rules that lenders must follow, however, so it’s important to know what they are, especially if one faces bankruptcy or foreclosure.
HOEPA, an amendment to TILA, was a congressional response to the numerous abuses of creditors offering alternative, typically high interest rate, home loans to residents in certain geographic areas. The statute was enacted to ensure that consumers most vulnerable to abuse would be afforded a safety net without impeding the flow of credit altogether.
The Real Estate Settlement Procedures Act (RESPA) is a consumer protection statute, first passed in 1974.
RESPA Was Enacted in Order To:
- Help consumers become better shoppers for settlement services and
- Eliminate kickbacks and referral fees that unnecessarily increase the costs of certain settlement services.
To accomplish these ends, RESPA requires that borrowers receive disclosures at various times. In addition, RESPA prohibits certain practices that increase the cost of settlement services.
To begin to unravel your current mortgage circumstances, the first and most critical step is to get the mortgage audit (forensic loan documents review) completed. From there, and depending upon what has been found, you may have a strong and defensible position with your lender. Once we have the results of your investigation, we can then negotiate new terms with your lender in any one of the following areas:
– Loan Modification
– Loan Restructuring
– Short Sale
– Short Refinance
– Short Payoff
– Deed-in-Lieu of Foreclosure
There is no reason with all the firepower you have at your fingertips to lose your home to foreclosure.
To reach Tila you can go to: http://www.tila-t.com/ or call them at 1–3 0 7—4 5 9—0 2 3 2
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