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A forensic mortgage audit is an independent review of your mortgage and related documents signed by the borrower on the day of the closing. These audits are being offered by for-profit companies that charge a fee. Auditors claim they focus on factors such as violations of federal and state law and errors in various calculations made at the time of the closing. Auditors claim their audits may prove helpful to borrowers facing foreclosure, or who find they are over-mortgaged, struggling to make payments or who think now they should check up on their mortgage transaction.
Any borrower interested in these services should be very careful about choosing a company to do the audit. It can be expensive and is yet another venue for scammers. Also, a borrower who has defaulted on their mortgage rarely succeeds in keeping the property and lowering their mortgage obligation. After spending money on an audit, the borrower may need to hire an attorney to take the matter to court if violations are found. Borrowers who are losing their homes because they can't afford the payments don't usually have the funds necessary to wage a legal battle against the lender.
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What else can I help you with?
3 general types of quality audits?
3rd Party Audit - Independent Audit 2nd Party Audit- Customer Audit 1st Party Audit- Internal Audit
What is the Difference between HR audit And Financial Audit?
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
Differences between audit plan and audit program?
difference between audit program audit & note book
How would you save against disadvantages of continuous Audit Compare between Continuous Audit and Periodical Audit?
How would you save against disadvantages of continuous Audit Compare between Continuous Audit and Periodical Audit?
What is audit committee?
Audit Committe enhance communication between Internal Audit, External Audit and CFO. Audit Committe assist directors to avoid litigatio risk.
What is the process of preparing an audit?
The process of preparation for audit depends on the kind of audit to be performed, it's objective and scope. The scope of the audit is key to the planning process. The planning required or statutory audit is different from internal audit; it also differs from forensic audit?
Who performs a forensic audit?
The best place to receive a forensic loan audit is at the Lighthouse Consulting Group in Santa Ana, CA. Brian Head, a certified forensic auditor, will be able to answer any questions you might have. I have used Lighthouse Consulting Group before and I would definitely recommend them to my friends and family. The team at LHCG is especially helpful when answering questions and putting your mind at ease.
Are forensic audits real?
NO! The majority of forensic audits are scams. I haven't ran across a single one that isn't fraud! I would never consider this as an option and most banks will put in the agreement that they will NOT modify your loan. Research the person offering this service and ask for records of successful modifications. BE AWARE!, this is a major fraud in most situations, so don't fall into the forensic audit trap.
How do you evaluate the internal areas of financial positions that can be improved?
A audit should be done at the end of the business fiscal year. The report will provide areas of risk and recommendations to resolve these issues are usually also provided. A forensic audit would be more costly but also very indepth to identify and resolve areas of concern.
Differences between IS Audit nad Traditional Audit?
what is the differences between IS Audit and traditional Audit?
3 general types of quality audits?
3rd Party Audit - Independent Audit 2nd Party Audit- Customer Audit 1st Party Audit- Internal Audit
How does an audit manager write up a letter to the audit partner?
How do I write a audit letter about concerns on an audit
What is the Difference between HR audit And Financial Audit?
Under HR Audit, audit of HR procedures and process is done while in financial audit, audit of finance related matters are done.
Differences between audit plan and audit program?
difference between audit program audit & note book
Difference between audit plan and audit program?
an audit program may contain several audit plans
How would you save against disadvantages of continuous Audit Compare between Continuous Audit and Periodical Audit?
How would you save against disadvantages of continuous Audit Compare between Continuous Audit and Periodical Audit?
What is audit committee?
Audit Committe enhance communication between Internal Audit, External Audit and CFO. Audit Committe assist directors to avoid litigatio risk.
