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If you are having difficulty paying your mortgage, you have options. Especially if there may be proof that your lending institution misled you , or failed to disclose the terms of your loan properly. Elite Sales Group working with Comprehensive Loan Auditing will audit your mortgage loan in order to determine whether you, as the homeowner, were indeed misled. And if so, we will recommend action that can lead to reconciliation and peace of mind . Homeowners and attorneys looking to have a mortgage loan modified must first determine the reasons, if any, that a bank should consider modifying the loan. This is where ESG and FMA can help. Once you become a client of ESG and CLS our first order of business will be to request a copy of your settlement package. This documentation will assist us in an initial review of your mortgage to see if a mortgage audit is warranted. If a positive review of your loan is obtained, your loan then becomes eligible for a forensic mortgage audit. This audit will investigate whether the information and calculations provided in your mortgage documentation were fully disclosed and in compliance with federal and state lending laws. We focus on the truth in lending document to ensure that your lender or broker properly disclosed to you the rate, term, fees and total repayment of the loan for which you applied. We also look to see if any RESPA (Real Estate Settlement Procedures Act) or predatory lending violations occurred. Ultimately, the potential modification of your mortgage loan hinges upon the audit report's pass or fail status. Once the audit is complete, if it is revealed that violations occurred, then we can proceed with a higher level of comfort that your loan modification will be approved. The ultimate goal at this step is the ability to rescind the loan. This may entitle you to receive back all of the interest paid on the loan, as well as your points and fees paid. The lender may allow you to obtain a new loan with a reduced principal and/or reduced interest rate. In many cases, an adjustable rate mortgage may be converted into a fixed rate mortgage. In the end, this will allow you a more affordable mortgage, and the ability to keep your home. To see if you qualify for a Mortgage Audit, ask yourself:
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