Tag: "loan audit"

Beware of Scam “Forensic” Loan Auditors/Companies

By Lane Houk on Jul 08, 2009 in Featured, Forensic Loan Audits, Truth in Lending

TILA or supposed “Forensic” Audits that use standardized check-off lists without providing a mathematical determination of the TILA Disclosure Statement and amounts are NOT Forensic Audits. A check-off list or automated/software-driven TILA Audit describing potential violations as “Serious,” or “Moderate” is incompetent and useless. A Forensic TILA Audit must provide accurate TILA; Regulation Z citations, case law precendent, as well as actual computation of all settlement service fees properly allocated in the TILA Disclosure Statement or the Audit will NOT withstand scrutiny by legal authorities. Do not be fooled by imitations using standardized check-off lists.

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Foreclosure Rights – Basics in Homeowner Foreclosure Defense

By Lane Houk on May 19, 2009 in Foreclosure Defense Research, Foreclosure Rights, Forensic Loan Audits, Truth in Lending

I realized this morning that it’s been a while since I’ve covered the basics of foreclosure defense. For those of you readers who are behind in their mortgage and trying to work something out with the lender (who is usually just the servicer of your loan, not the owner), you must beware that MOST of these institutions do not deal with you, the homeowner in good faith. Every time I see the news media covering some ridiculous thing they call “reporting” of the facts, fair and balanced or whatever, what they “report” is that banks are hurting, the government is going to save the “people” from this mess and servicers are doing everything they can to help. Call this number, call that number and you’ll get help. Go to this government site, or that for more information… yadda yadda yadda.

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Recoupment: A Powerful Claim in Foreclosure Defense

By Lane Houk on May 17, 2009 in Foreclosure Defense Research, Foreclosure Rights, Forensic Loan Audits, Homeowner Resources, Truth in Lending

In the state of Florida, there is extensive established law that prevents summary judgment from being granted when there are outstanding issues of material fact. Johnson v. Boca Raton Community Hosp., Inc., 985 So.2d 141, Murphy v. Young Men’s Christian Association of Lake Wales, Inc., 974 So.2d 565. A “material fact,” for summary judgment purposes, is a fact that is essential to the resolution of the legal questions raised in the case, Continental Concrete, Inc. v. Lakes at La Paz III Ltd. Partnership, 758 So.2d 1214.

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Your best chance at a real Loan Modification – TILA Rescission

By Lane Houk on Jan 17, 2009 in Loan Modification, Truth in Lending

TILA stands for the “Truth in Lending Act.” It is the major piece of federal legislation that regulates lending practices of financial institutions. A borrower may have the “extended right to rescind” a loan for UP TO THREE YEARS FROM THE DATE OF CLOSING.

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UPDATED! – TILA Rescission Case – Bankruptcy Judge Finds in Favor of Borrower

By Lane Houk on Jan 16, 2009 in Court Cases, Truth in Lending

This is one of the most powerful cases I have read in a long time. The borrower in this case rescinded the loan transaction because an audit of their closing documents revealed a “material disclosure” violation as is defined in 15 U.S.C. §§ 1601 et seq. (“TILA”) and its implementing regulations at 12 C.F.R. § 226 et seq. (“Reg. Z”).

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Tag: "loan audit"

Beware of Scam “Forensic” Loan Auditors/Companies

Foreclosure Rights – Basics in Homeowner Foreclosure Defense

Recoupment: A Powerful Claim in Foreclosure Defense

Your best chance at a real Loan Modification – TILA Rescission

UPDATED! – TILA Rescission Case – Bankruptcy Judge Finds in Favor of Borrower

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