My loan was refinanced in 2005, what is the Statue of Limitations? If I have passed the Statues of Limitations, what could would the audit do, even if there were state /federal violations?
There is some debate over when the Statue of Limitations begin if the required information was never disclosed properly. Time limits will vary depending on the statue for instance some RESPA and TILA laws on a refinance have a right of recession that is three (3) years, but the legal community is divided as to whether the clock begins at loan consummation or if it begins from the point of discover of violations or after full disclosure.
In the Mortgage Loan Compliance Forensic Audits we are looking for fraud, misrepresentation, and breach of fiduciary duties in addition to failure to disclose and proper calculations of the terms and cost of the loan. There is of course no Statue of Limitations for fraud, and if errors are found, fraud should be your main compliant.
However, your Audit could reveal that the Lender was in compliance with the law. Audits are the facts of the loan- what was disclosed, if calculated correctly, and the benefits to the borrower.
A loan or mortgage is a legally binding contract so please be very cautious of anyone or any company that promises that a Audit entitles you to a loan modification, loan recession or otherwise.
Again the Audit is just the facts. The facts of the loan combined with your recollection of promises or assurances made by the lender or broker, and a well drafted compliant is what the courts will consider as a case with merit. Many cases in the past have been kick out of court as having no standing because no proof of wrong-doing was provided or evidenced.
Get The Facts on Your Loan and Protect Your Rights!
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For A Limited Time Order A $59 Rapid Report Forensic Audits Or A $295 Certified Forensic Compliance Audits.
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