As this site has reported in the past, forensic loan audits are still usually a waste of money. Forensic loan audits are a part of the modification fad but has gained more strength since pure “loan modifications” have been restricted from charging advance fees. Many of these same companies are now trying to usurp the law by calling their services audits where they will negotiate for free. As Attorney General Brown correctly states,”Forensic loan audits are yet another phony foreclosure-relief service hawked by loan-modification consultants trying to cash in on the desperation of homeowners facing foreclosure.”
I have still yet to see any real value these forensic loan audits have produced. I have heard stories here and there but no real indication that they are worth it. It seems you need only be living and breathing and they’ll run you through an audit. It does not matter whether you are outside the statute of limitations or the type of loan you have.
Do yourselves a favor, do not waste your money.
This is old news, Mortgage Fraud Examiners exposed this problem a year ago in a press release: “Beware Of The Latest Foreclosure Rescue Scam–Loan Audits”
I agree. Old news for those in the industry, but the service is still being sold as an “new and better” modification program.
Is it legal for an attorney to charge upfront for a forensic audit
only.
Well I have decided that everyone must be stupid then, or it pays to be dishonest and if you have money too go along with your dishonesty well welcome to California. The people that pay modification lawyers get screwed, however some actually get a modification if they can afford the price, beats dealing with the bank, who continues to lie and get away with it, now it’s the loan auditors are frauds, and the realator that handles the short sale and the short sell service and on and on, where would you like those of us that haven’t got the cash flow to go? Everyone I know either files chapter 7, which is the cheapest around, go figure, or just waits until being thrown out of home, and then there are the poor ones that have called hud, worked with a counselor and all of the above, that was worthless for most, and still gets foreclosed on, just where? would you like us to go? If they are a bunch of frauds just where are you? you know the ones that are supose too protect the consumer? the whole mess is a joke, although I am not laughing and most of my neighbors do not find any of this ver amusing, any crooks out there have any ideas for some of us stupid consumers please let me know, desperate homeowners in Soledad, California go figure, I guess we will be the ones they go after, typical.