What is a Forensic Loan Review?

In its simplest terms it is a complete investigation of the loan that you were given by the lender. It will show any and all loan violations that the lender is guilty of when they created that loan for you.

What is a Predatory Servicing Investigation?

It is a complete investigation of any and all abusive practices that the lender has been involved in since he has been servicing your loan. Many people who were given predatory loans are being serviced by predatory lenders. Many homes are lost to predatory foreclosures.

Who Is On My Side?

What’s the best way for me to stop foreclosure?

• Contact us. We will give you immediate attention to protect your home and family. We give your case personal attention by taking into account your current and past financial situation to find the choice that works for you. Our goal is to prevent foreclosure. We strive to give you more than a quick fix; you’ll get a lasting solution to your unique circumstances so you never have to face foreclosure again.

Should I try to do this myself?

• Most people who try to do it themselves do not succeed.The bank is not your friend. They are in the business of making money. That is their first goal. You will only be “a friend of theirs” IF you can help them achieve your goal. If you don’t have somebody on your side, like an attorney when he represents you in court, or an insurance adjuster when he works on your behalf, chances are you will not succeed. You need someone who understands your rights and the processes of loan modification or short sales.

  Congress recently passed laws that give you special rights to help you modify your loan. We work for you. We are your advocate throughout the process. And we always start the process by first humbling the bank. That is why investigations of your loan and often your lender are the critical first step.

Can I really put an end to foreclosure proceedings with a loan mod, work out program or short sale?

Yes you can. But keep in mind that you need to be willing to be an active participant in the process. Forensics alone will not save your home. We use the forensics to get the necessary ammunition, but we must successfully complete negotiations to truly bring the foreclosure to an end. It is an interactive process. We can get the job done for you, but you must be able to provide us with the information we need to accomplish this. Remember that rapid response to the requests of the lender during the negotiation phase is required of you so that the lender does not just assume that you are stalling for more time and close out your file.

Finally, it is of utmost importance that you keep us informed of any documents you receive from your lender. If you receive documents and do not provide them to us important information on the foreclosure proceedings could be missed, and your foreclosure proceedings could move forward to conclusion before your loss mitigation solution is completed.

It can take and months and months to get a loan modified or a short sale negotiation completed, why is this?

As the need for loan modifications and short sales has grown, so has the amount of time increased to process these through to completion. The time varies greatly from lender to lender. When lenders first began negotiating short sales or modifying loans, there were a good number committed to the 30-day process. Some can still process files within a 30- to 60-day time frame. Others simply cannot or will not.

Today, lenders are working diligently to get these “non-performing loans” off their books. Boston Globe reported in June of 2009 that lenders don’t want to modify loans as there is no profit in aiding the distressed. By July of 2010, we see reports like the following:

NEW YORK (Dow Jones)—Wells Fargo & Co.’s (WFC) profits jumped 20% from the prior quarter, as once-raging loans losses tapered sharply and hedging gains from mortgage-servicing rights again boosted the firm’s bottom line. The San Francisco bank said Wednesday it earned $3.1 billion in the second quarter.

And finally, lenders can make good profits off foreclosure, thus stalling, rejecting, or otherwise misapplying the process of loan mod and short sales can help them move a home into foreclosure where they can get “once raging loan losses tapering sharply”.

It is believed by some that part of the strategy includes simply wearing the homeowner down, or backing him into a corner through manipulation and playing upon his fear, desperation, or feelings of loss.

My lender says that I should not have to pay for loan mod services provided by the authorized third party until the work has been completed. How do you charge?

Rockingham actually provides a host of fee based and free services. For example we do not charge any fee at all for any type of negotiations or foreclosure assistance (all of our court solutions). We do charge to investigate lenders and loans.

Do keep this in mind, however: Look to the society we live in to find the truth. The majority of service-oriented companies in our country require payments for services before or during the time of rendering. A few examples:

• To buy a home, you must almost always have a down payment, and pay a large number of closing fees, and often pay the first month’s payment at the time you close on the loan.
• If you require legal representation, your attorney will charge you an upfront retainer fee, then bill you as he or she continues to work on your case. If at any point, you miss a payment after your retainer is used up, you will lose his or her representation.
• With the exception of some emergency room services, when you need medical attention, you must first show proof of insurance or pay at the time of service.
• Insurance companies require up to 30% payment upfront, billing the rest over a period of time.

Then there is the fact that the laws of this country require all loan documents, including modified terms to be delivered to the property address. One receives the modified offer directly from their lender as a result of the work done by the authorized third party. The question becomes one of simple finance. If the homeowner does not pay the authorized representative’s upfront service fee there is a very good chance that the firm will not be paid, they will go out of business, and not be able to save the homes of others who are relying upon them. That fits the lenders’ goals of being able to manipulate the “game they are playing”

Click Here For Contact Form