FAQs

What is a Quiet Title audit?  AUDIT OF THE BORROWER's EXPERIENCE
The audit is a review of the mortgage related documents signed by the borrower on the day of closing.  The audit focuses on disclosure violations of federal law (TILA, RESPA, FDCPA, HOEPA, UCC, and others) and state laws (common law, fees, yield spreads, contract law, and others).  The audit also looks for commissions violations, refund eligibility, misapplied payments, calculation errors, application fraud, and more. Origination issues can be used to rescind a loan, and allow the borrower to win a Quiet Title case!

 

What is a securitization audit? AUDIT OF THE NOTE AND MORTGAGE DEED's EXPERIENCE

The audit is a review of the sale transaction that took place after you received your loan.  The audit focuses on chain of title, note and deed possession issues, and more.  More on securitization audits CLICK HERE.


Who can receive an audit? 
All homeowners are eligible for an audit (80% - 98% of mortgages have potential violations). 

1.      If you have an ARM or high interest rate

2.      Your mortgage was sold

3.      You have an escrow account

4.      You have little to no equity

5.      You are struggling to make payments

6.      You are in foreclosure

7.      or You just want to check  

 

You QUALIFY!!!

 

Can this stop foreclosure?
Yes!  The audit can be used to stop ALL collection activity including foreclosure.

 

Can it cancel my mortgage?
Yes!!  Our Program helps in at least 4 ways.

1. TILA Violations 
Right of Rescission - The rescission right is absolute for 3 days, but it is extended for up to 3 years if certain material TILA disclosures were not provided correctly at the time of the originalcredit transaction or a proper notice of the right to cancel was not given.  The creditor must give each consumer 2 copies of a notice of the right to rescind.  If you were never notified of your Right To Cancel, certain TILA disclosures were not accurate, or if your tried to Cancel and were not allowed to, you maybe eligible to have your loan canceled if you refinanced less than 3 years ago.

APR and Finance Charge Violations - Incorrect disclosure of these numbers could allow you to cancel!

TILA violations can have very severe consequences for the lender up to and including having the homeowner receive the property FREE and CLEAR!

2. Mortgage Was Improperly Sold
Because the people who acquired your mortgage and made it into a security changed the mortgage agreement without your permission and made the mortgage unusable. They don't have a right to enforce the mortgage agreement you granted. You made a deal, if you don't pay the mortgage, a SPECIFIC party can take your house away from you. You didn't say ANYONE could take your house away from you.

Despite the fact the creditor is owed the money, the creditor does have the right to foreclose. Our Program is designed to let everyone know the creditor does not have the right to foreclose and compel the creditor to workout an alternative payment arrangement.

When you create a mortgage, you create 2 documents. The note and mortgage. The note is the IOU and the Mortgage is the legal agreement that gives the right to take your house away if you don't pay. When you failed to pay, the party that purchased the Note tried to use the mortgage to foreclose. However, when the party "securitized" the mortgage, the added new conditions and new parties that you unaware and didn't agree making the mortgage agreement unenforce-able. So, although you still owe the money to the other party, they cannot use foreclosure to take your home.


3. Predatory Practices (i.e., Non-Repayable Loan, Fraudulent Appraisals, etc.)

Certain homeowners received loans that they were never able to repay, had inflated appraisals, or other potentially fraudulent activity.  Our program runs tests on your mortgage documents to see if your loan meets these criteria.  

4. Produce the Note (Judicial or Non-Judicial States)
If the lender cannot produce the original note (which is a negotiable instrument), they do not have the right to foreclose on your property.  FreeMortgageAudit.net, will provide what you need to force the lender to show proof that they have possession of the note.  Do not let the lender re-establish a copy!

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Do I need to be behind?
No! 

 

How is an audit different than a loan modification?
A loan modification is where you ask the lender to change the terms of your mortgage so your payments can become more affordable.  For example, they could lower your rate to 3% and/or extend your term to 40 years or so. 


An audit does not modify the loan terms, but it can make it easier to get them modified.

 

Why should anyone do an audit to lower their payment?
Audits work to help borrowers get modified payments because the lender now has more of an incentive to negotiate or come to a settlement/agreement with the borrower. 

 

Will this impact my credit?

Depending on your situation, it could actually help your credit because the lender must stop reporting to credit agencies once they acknowledge their violations.

 

What if I am in foreclosure and I want to sell my home?

A successful audit can give you more time to find the right buyer.

 

Can an audit help if I have received a sale date?

Yes.  However, you may need to have an automatic stay filed if your date is less than 60 days away!

 

Can the mortgage audit help me if my home has already been sold?

Yes, as long as you live in a state that allows for a redemption period, you can still challenge your lender and stop the sale from being completed!!

 

You could also use the audit results to sue the lender for damages and remove any negative reporting on the credit report regardless of your state laws.

 

Can I find out if I have violations before spending any money?

Yes.  We have a Free Online Audit available.  It will summarize some of the most abused violations.  It can even determine if you may be entitled to cancel your loan. 

 

Just complete the form to your upper right, and your results will be provided instantly.  Just click on any one of the laws on the results page to learn more about your FREE results.

 

You can also call 800-704-4228 to review the Free results.  You can also Click Here to get a Full Quiet Title Audit now!

 

IMPORTANT NOTE:

The free audit results are meant to be used as a directional guide for the homeowner. It is NOT a comprehensive Quiet Title audit, and it will NOT show ALL violations.  The FREE results could show NO violations, BUT a full Quiet Title audit could still find VERY SEVERE violations.

 

It is NOT possible to challenge your lender with the free results alone. The homeowner's actual mortgage paperwork must be reviewed to ensure identification of ALL audit violations.


The Refund Checker Audit


How much can be refunded? And how is it paid?

The amount refunded will vary by loan, but very large refunds have been found for some borrowers greater than $30,000. Usually the error is corrected by adjusting the principal balance of the loan. In some circumstances, the borrower may be able to obtain additional tax benefits because of errors as well.


What loans qualify for an audit?

All ARM Loans AND fixed rate loans where the borrower has made extra principal payments AND has documentation.  Also, if your loan was transferred, and you believe the new servicer did not use the correct transfer balance.


How long does it take for the lender to process my refund check?

In general, most lenders today will respond promptly when notified about any mistakes in computations. Since these mistakes are inadvertent, most lenders want to make corrections and make a full refund or credit to any borrower bringing the mistakes to the bank’s attention. Therefore, it is unlikely that you will have to take the step of either contacting the State Banking Regulator or an attorney.


How long does it take to get the results back for my audit?

You will have the results of your mortgage audit in approximately 5 business days after we receive your information.



 

 

 





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