Should You Get a Forensic Mortgage Loan Audit?

The purpose of this is that some banks and lenders are reporting inaccurate information in relation to your defaulted monthly payments.

In the refinance documents you filed there could be missing signatures and mishandling of notarized paperwork. If this is something that you can take to a mortgage loan attorney then you may have a case for saving your home during the loan modification process.

For instance the first thing that must be determined is if you have a grace period in your mortgage agreement for late payments. In the case of foreclosure rescue fraud you may be a victim of violations by your underwriter at either the state or federal courts. It is your right to get help if you think you will be unable to pay your rent. As a homeowner you have the option to check to see if you have been targeted by predatory lending practices from foreclosure prevention auditors.

Contact your state to get assistance from the consumer protection agency, this will help you avoid missing the opportunity to reduce your loan principle. Just make sure that you are able to to get a experienced forensic attorney to review your loan documents from a credit or housing counselor.

Although you may see information online in regards to DIY foreclosure solutions make sure you are getting the right advice. Not all of the services related to your situation have a license to do business in your city. The goal is to negotiate a new repayment schedule in-order to lower your monthly payments over the course of the next 5years. Before you get a mortgage audit forensic loan document review be able to show proof of hardship.

Keep any receipts you may have as well as bank statements, employment payroll information and keep them in a file so you can use them when filling out your litigation contracts.

For more information about this issue check out this reference:
consumer.ftc gov/features/feature-0022-financial-educators
consumer.ftc gov/topics/homes-mortgages
consumer.ftc gov/topics/home-loans

Loan Modification Assistance – Types of Foreclosure Listings

If you are investing in real estate then you are probably seeking to find foreclosure listings. The best way to go about doing this is by using websites like foreclosure.com because it is an authority site specifically geared to helping with listings of various types of foreclosures on the market.

Here is an example of the types of listings that you will find online:

1. Pre-foreclosures
2. Short Sales
3. Sheriff Sales
4. Foreclosures
5. Bankruptcies
6. Rent to Own
7. Auctions
8. Tax Liens

Depending on the types of real estate property that you or your company is searching for it can be advantages to look within the top cities.

Here is the top cities for finding foreclosures mentioned in the above list.

A) Las Vegas
B) Miami
C) Atlanta
D) Chicago
E) Houston
F) San Diego
G) Orlando
H) Charlotte
I) Denver
J) Tampa
K) Dallas
L) Los Angeles

This list will help you if you are a first-time homebuyer, home reseller, or property investor. Just know that the best houses will have lots of competition and you will need to be prepared to bid a high amount or pay cash to get the deal you want. Many of these homes will be called what is known as a fixer-upper and will require that you hire a work crew who will come in and do the landscaping, windows and trash removal as well as minor construction or repairs.

Each city and state has different rules on how to go about purchasing a short sale, or pre-foreclosure property and this is because often times you will be dealing with the homeowner instead of the bank, in these cases you should have a real estate lawyer to help you with the correct paperwork. This Foreclosure Listing will change often, so it is a good idea to keep up on any changes in the field

 Home Renovation Loans

Mortgages that pay for your home modifications. These programs for homeowners come from the Federal Housing Administration (FHA)

How To Save Money On Home Renovations

As a property owner of foreclosures and short sales as a landlord you will be required to keep the home up to code with the city. For example when it comes to renovations the house should be maintained to prevent any hazards. To start you will want to obtain a certificate from a home inspector. They will come into the home and check for any leaks in the roof or foundation issues.

Older homes will have the normal wear and tear from previous years of occupancy. The historical vintage style houses can be given a facelift with funds from the local county city permits office.

Once the house inspection is done you will have a list of repairs to fix. The cost can be covered with a grant that assists with renovating older homes. The most important areas will be the basement, roof, bathroom and structural damage found outside the home along the base boards.

Renting out the house to renters does not relieve you of the responsibility of repairs as the landlord. Tenants will expect you to cover the minor and major issues associated with foreclosures and short sales where water damage has occured.

Home fires can also cause plenty of insulation issues that need to be addressed not to mention black mold from asbestos. Just make sure to contact professionals who know how to take care of these things. It may cost money to have it done properly.

The benefit of maintaining a home through the years is the appreciation that you will receive from the home’s increased value. The amount you owe on the home at time of purchase will most likely include the market value of the surrounding neighborhoods.

This could be high or low and depending on how the economy is doing in the real estate market you could be faced with a home that is worth much less than the asking price. If you keep the home fixed with repairs during the renovation this is where you will be able to get your money back to re-invest in other properties.

Saving money on your home repairs starts with keeping a regular maintenance schedule, hiring professionals for inspections and getting renters that will take care of the home while they are occupants. Then when it is time to sell the home you can get your asking price.

Image Credit: Pixabay

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