Homeowner’s Facing Foreclosure Finding New Help with Legal Loan Audits
With every new quarter that passes it seems a new record of foreclosures are being recorded. Lenders have been slow to meeting the tsunami of foreclosures hitting the country and although the government has charged 700 Billion in additional debt to tax payers the government is simply unable to offer meaningful assistance to the millions of homeowners nationwide. So what’s a homeowner in need to do?
Enter Premiere Property Processing, “By auditing the homeowner’s original loan documents we are able to find federal violations that give homeowner’s leverage against their lender” states President and CEO David Garza of Premiere Property Processing. "The lenders have set and strict modification program guidelines whereby if you don’t exactly fit in their mold then you’re automatically denied.
For example some lenders have a set 3 month forbearance program prior to considering any modification. What that means is that the only program anyone can get with these lenders no matter who they are is they take your delinquent payments divide them over 3 months and add them on top of their original payments. For example if your monthly payments are $3,000.00 a month and you’re four months delinquent your total delinquency is $12,000.00. The lender would actually demand that you divide the delinquency over a three month period equaling $4,000.00 a month and add it to the #3,000.00 original payment. Meaning the new payment would be $7,000.00. As insane as that may seem this is the only plan some lenders will offer, no matter what.
So how can a homeowner possibly afford the new higher payment when they couldn’t even pay the prior payment? The answer is they can’t and that’s why they need the audit.
“The national average is that well over 85% of all loans have federal violations on them. These violations expose the lender to potentially massive financial consequences if they were to lose a lawsuit in court. Up to and including giving he loan back to the lender and demanding monetary damages for the fraud committed to the homeowner”
The goal isn’t to take the lender to court and sue them for damanges. It’s to have a plan strucutured that’s fair to the homeowner based on their real income. To let someone who can afford the home to keep the home.
For questions about Loan Audits and other issues related to Real Estate visit www.PremierePropertyLLC.com or call them at 800-997-3437
- Contact Information
- David Garza
- Premiere Property
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