REALTOR® Magazine-Daily News-Examine Paperwork Prior to Foreclosure
Image by respres via FlickrREALTOR® Magazine-Daily News-Examine Paperwork Prior to Foreclosure
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Examine Paperwork Prior to Foreclosure
A Florida real estate consulting company specializing in mortgage forensic research, warns homeowners near or in foreclosure that legal violations are increasingly common in complex mortgages and urges them to examine their paperwork carefully.
Consumer Mortgage Audit Center, many of whose members are also members of the American College of Forensic Examiners Institute, works with attorneys nationwide to help them identify mortgage violations and instances of predatory lending that can offer options to save homeowners from foreclosure.
CMAC urges homeowners facing foreclosure to:
Compare their HUD-1 document, which buyers get at settlement outlining most costs, with the same lender's good-faith estimate. If the figures on the HUD-1 and the good faith estimate are different, this may signal that there is a problem.
To further investigate the issue, the homeowners should consider consulting an attorney who handles foreclosure defense cases. Most foreclosure attorneys don’t charge for an initial consultation.
Source: Consumer Mortgage Audit Center (09/14/2009)