I am a very experienced underwriter in loan modifications. I have seen over and over again how lenders are not following MHA / HAMP Guidelines when approving or denying a homeowner. Sometimes lenders just don't want to approve anyone and sometimes lenders make honest mistakes. In any event, homeowners are entitled to foreclosure assistance offered by the government through banks, nationwide. The way banks calculate ratios and approve loan modifications varies and that is why there are so many mistakes.
I will admit that loan modification guidelines are not as clear as they should be so, that is why an economical service was created to solve this problem. The website listed below is an "Audit & Documentation service for loan modifications. They offer a very detailed audit of homeowner qualifications that will review homeowner loan modification applications, properly underwrite and prepare a detailed report that proves your qualifications, per the MHA / Hamp Guidelines. Lenders can not argue with the math.
Homeowners can order an "Audit" of their loan modification denial and receive a full review of their true qualifications. The underwriters will take the homeowner application over the phone, audit the homeowners income and expenses, determine proper ratios and prepare a detailed audit reflecting the proper rate and loan terms they deserve per federal guidelines and email the "Audit" to the homeowner.
They are an independent auditing service designed for the protection of homeowners.
Homeowners should fax or mail their audit of their qualifications to their lender as well as the regulatory agency supervising the lender. The result of this process makes your loan modification "High" priority with the lender and in many cases will result in an approval very quickly, We suggest this as the first step before paying an attorney if you have been turned down by your bank. It could save you thousands of dollars, save your home from foreclosure and save you a lot of problems.
The banks are using their own auditing service to review loan modification denials but, you can not trust them. You need an independent auditing service designed to protect homeowners, not lenders. The regulatory agency (OCC) is monitoring the banks and everything to insure homeowners get the help they deserve. So, be sure they get a copy of your detailed audit reflecting your true qualifications. Order an expert audit of your application and receive a detailed audit which can prove you are qualified with proper calculations, per federal guidelines.
Save yourself the headache of trying to argue or simply get your lender to approve you. If, you don't have proof of proper calculations per federal guidelines that show you are qualified, they will turn you down. We have seen many homeowner sincerely need an independent auditing service to protect them and avoid delay after delay by banks and, turn their ldenial into an approval, very quickly with an accurate "Audit" of their qualifications.
Every homeowner facing default or foreclosure is entitled to the help that the government has provided and with the "Audit", proper documentation and the proof per federal guidelines, will get the help they deserve. Support this independent auditing service and write your government to approve them as the homeowners choice to "Audit" their loan modifications. The are designed to protect the homeowner, not the bank. You can find their website listed in the resource area.
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