It has been stated in a variety of newspapers over the past few years that the fees added on to foreclosure are very profitable to the lender. There have been thousands upon thousands of complaints from homeowners where they have suffered for months waiting for loan mods. Often when they started their request to receive a loan mod they were not even in foreclosure. Yet by the time the lender finally got their loan modification completed, they were in foreclosure and had to pay off as a ... read more ->
Tag Archive: Tila-now
By Melanie Atherton
Congress has been working on new legislation that is designed to overhaul current financial regulations. This legislation points fingers in key critical areas across the nation’s economy. Important for homeowners is Congress’s plans to form a new agency to crack down on deceptive mortgages and other financial products in the future. It also aims to better protect consumers, tighten the reins on financial institutions and stop rewarding executives for taking reckless risks to fatten their quarterly earnings and bonuses.
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By Caroline Taylor
The professionals at Truth in Lending Auditors help homeowners stop foreclosure almost daily. The Tila2 staff work directly with your lender and you to show why it is in the best interest of the bank to give you a loan mod. Often people who come to Tila2 have tried for months on end to get the bank to modify their loan.
Why are the staff at Truth in Lending Auditors able to prevent foreclosure so often? Because they specialize in forensic audits. The first step that Truth in Lending Auditors takes when a homeowner needs to get a loan modification is to conduct a complete forensic loan document review of the loan that the lender gave them.
You may wonder why this is the first step: It is because over the past decade lenders have repeatedly violated TILA, RESPA, HOEPA, and ECOA laws. They’ve ignored guidelines set by the OCC, and they have put people into predatory loans that are now wiping them out. Tila2 personnel have found that the best way to get the lenders to the negotiations table and to bring an end to the burning and churning in the lender’s system while desperately hoping for a Loan Mod that normally doesn’t come is to show the lender what he is responsible for.
