Loan Doc Audits???

By
Real Estate Agent with The Homefinding Center CA BRE #01344132

Doc reviews for discrepancies??

I have been approached twice in the past week by companies who will have attorneys scrutinize an owner's loan docs for problems/violations.  If they find something abnormal, they will put some serious pressure on the lender to change the terms of the loan to a much more agressive interest rate or repayment schedule.  Has anyone had any experience with this type of service provider?  I'd like some feedback as both of the people who approached our office sounded like a used car salesman.  I'm skeptical at this point.

Cameron Novak, Corona Real Estate Agent
Cameron Novak

Corona Real Estate Broker
The Homefinding Center
TM
Corona, California
951-212-7479

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Topic:
Mortgage / Finance
Location:
California Riverside County Corona
Tags:
corona real estate
loan audit
doc audit

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Anonymous #1
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Most likely the terms are not in violations, but rather one could construe it as a violation.  Thats what lawyers do.  There is an old joke goes...lawyers aren't bad at math, they just know that 2+2 does not have to be 4.  So just have them explain to you why it is wrong and what law it violates or rule.  If anything you get free advice and escape from having a client that might end up screwing you over later, because some other unforeseen violation.

October 10, 2008 03:23 AM
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Rainmaker
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