In a far too common story the Federal Trade Commission (FTC) has shut down yet another bogus Forensic Audit Company (see below).
It is important that consumers understand that most companies will tell you what you want to hear to get your dollars into their pockets. “Forensic Auditing” better described as Compliance Auditing is not a new and powerful tool that will stop your lender from foreclosing. In fact your lender uses the same “quality control” tool as a requirement to sell loans to FHA and to ensure that their portfolios have minimal risk to Secondary Market Investors.
We have heard numerous audit companies make claims that they are “experts” or that they wrote the book on mortgage securitization. Again, be careful what you believe in or throw your hard earned money after. There are experienced auditors, but those that wrote the book on mortgage securitization are enjoying a very luxurious life of traveling, skiing, and painting; while we the “common” people work through the mess.
Forensic, Compliance, Mortgage, and/or Loan Audits are just the facts. If you find one or several violations in your loan through research or an Audit you will not be automatically entitled to anything, nor will your lender be forced to give you preferential treatment. Your mortgage is a legally binding agreement between you and your lender. Do not take any action in regards to your property without first consulting a competent Legal professional.
Get The Facts, Audit Your Loan and Protect Your Rights!
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The defendants behind an operation that allegedly preyed on vulnerable homeowners have agreed to settle Federal Trade Commission charges that they lured people into paying $1,995 or more by holding out bogus promises that they could help them avoid foreclosure and renegotiate their mortgages.
The FTC’s settlement order against the Los Angeles, California-based Consumer Advocates Group Experts, LLC, company owner Ryan Zimmerman, and two other related companies is part of the agency’s continuing crackdown on scams that target consumers in financial distress. It bans the defendants from marketing any mortgage assistance relief or other debt relief products or services. It also prohibits them from making misleading claims about any financial product or service, or any other type of product or service.
To see entire FTC Article goto http://www.ftc.gov/opa/2013/02/cag.shtm
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