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With the government’s HAMP program designed to give people at risk of losing their homes to foreclosure loan modifications that would lower interest rates and reduce monthly payments to a more manageable amount, it seemed like things were going to get better for millions of at risk homeowners.  However, the banks have failed to see things that way and continue to deny loan modifications to the large majority of people that apply for them.

The actual approval rate for a loan mod is a mere 20% of applicants.  Many banks will approve a temporary loan mod to people in need, but will then refuse to make it permanent.  This will result not only in the payments going back up, but homeowners will then have to pay back any breaks they got from the temporary loan mod in addition to their former higher payment.

Many people are left wondering what they can do since the banks have no incentive to approve a permanent loan mod.  There is a way to give banks an incentive to give you the permanent relief that you deserve, and it is by having a loan audit performed on your mortgage.

A loan audit, such as a forensic loan audit, is designed to detect lending violations that will provide clear evidence of wrongdoing on the part of a lender.  This will strengthen your argument for a loan mod, since currently about 80% of mortgage loans have multiple violations at the state and federal levels.

With evidence that has been gathered through a loan audit being performed, the door can be open to pursue litigation against your lender.  Most banks would much rather negotiate and avoid having to go to court.  A forensic loan audit can re-open loan modification doors that were previously closed.  You will be amazed at how willing the banks will be to negotiate with you.

An in-depth forensic loan audit will discover any and all violations associated with your loan, from excessively high interest rates and additional predatory fees to more basic violations such as incorrect dates on a loan application or incomplete applications.  Once these violations are discovered, you have leverage over your lender.  Not only can loan audits be used to help obtain a permanent loan mod, but in some cases if very serious violation are discovered, previously paid interest could be refunded to the homeowner and in rare cases, the loan could possibly be rescinded.  This means that the bank would have to refund any closing costs and finance charges.

Homeowners need someone who can look out for them and help with a detailed loan audit.  Tila Solutions looks out for the homeowner.  A Tila Solutions Consultant is available for people by telephone at (702) 508-0335.  Or you can visit the Tila Solutions website at loan mod.  They will help. They are not funded by the governments or the lenders. They are on the homeowners’ side.