Vanderbilt Mortgage And Finance, Inc. An attorney have given information regarding the laws pertaining to loan modification; Vanderbilt claims the laws doesn't pertain to them. Maryville Tennessee

As over 2 Million Americans are facing foreclosure, many turn to a loan modification company or lawyer to modify their loans. Most consumers find the following, after attempting to modify their loans through the banks "loan mitigation department."
1. They receive a forebearance, which in essence is just another promise to pay at a later time, with the back payments usually tacked to the end of the loan.
2. Lender never returns their phone calls, denies their claims, long enough for customer to fall far enough behind to face a Notice of Sale.
3. The bank approves a 'loan modification", but puts the customer into another Adjustable Rate Mortgage for 5-7 years, with a balloon at the end.

Customers should know the following:

92% of audited loans are found to have multiple RESPA (Real Estate Settlement and Procedures Act) and TILA (Truth in Lending Act) violations, which a forensic loan auditor can find.

Lenders are more than willing to save face and modify a loan after being presented with the possibility of litigation and the recision of the loan based on Federal Statutes.

Using legal leverage, a consumer can protect their most valuable asset and fight the rampant fraud in the mortgage business.


If you are a loved one is facing foreclosure, or have questions about how to prevent foreclosure with a loan modification, questions can be answered by writing;
Daniel
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