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Congress has been working on new legislation that is designed to overhaul current financial regulations. This legislation points fingers in key critical areas across the nation’s economy. Important for homeowners is Congress’s plans to form a new agency to crack down on deceptive mortgages and other financial products in the future. It also aims to better protect consumers, tighten the reins on financial institutions and stop rewarding executives for taking reckless risks to fatten their quarterly earnings and bonuses.

However, while this legislation is looking to the future to prevent another financial collapse and stop deceptive practices, the homeowner is not protected from the banks right now. Every day, the banks are misleading people who are in foreclosure with false promises of loan mods. This is why more and more, homeowners are taking matters into their own hands. They are coming to companies like Tila Solutions who provide complete forensic loan audits and use the results to get the banks to finally approve the loan modification.

One by one, American homeowners have fallen prey to the banks that originally mislead them with their deceptive lending practices, despite the laws that protected the borrowers. Let’s not lose sight of the fact that the banks simply chose not to follow those laws. If they had, we wouldn’t be a nation in foreclosure today. It becomes clear that Congress knows the problems exist otherwise they wouldn’t be forming a new agency to prevent future deceptive mortgage practices. But what does the homeowner who is losing his home do now? Most just lose their homes. But they do not have to. The laws that should have protected them when the lenders issued the loan can still protect them now – if the homeowner will reach out to use those laws. Forensic loan audits will reveal what the bank did wrong and open the doors to stopping foreclosure, and finalizing a loan mod.

So why is Congress turning a blind eye to the banks as they currently lie to and mislead the homeowners? Most often done by offering loan mods to them while foreclosing on those very people they said qualified? And why are the banks continuing to turn people down in record numbers?

Could there be any truth to the concerns that many people have expressed? Tila Solutions has received thousands of calls. The homeowner believed the bank’s “offers of help.” They believed it when the lender said they did not have to address the foreclosure process — that it was just a formality or a way for the lender to stay on top of the file. They believed their lender when he said that they could work directly with the lender and get the loan modified — which would automatically bring the foreclosure to a stop. Sadly, far too many of them found that actually yes, the foreclosure did stop: when the lender auctioned off their home.

What would have happened if a homeowner had known that his lender deceived him with the original loan? Would have been so likely to blindly trust that the lender really wasn’t going to auction off his home (even though the lender’s attorney firm provided him with an auction date) and was going to give him a loan mod? Probably not. Do you think the homeowner would have had the courage and wisdom to get his loan investigated?

Many homeowners are doing just that now. The attitude today is to stop trusting the bank. And it comes as no surprise: Countless forensics audits have been done, and consistently they reveal the same thing: Banks ignored the laws: the violations are found in the loan. Foreclosure doesn’t have to end in a disqualification for loan mod and an auction date. In fact, with the use of Forensic Loan Audits, homeowners are saving their homes? The lender stopped foreclosure because he actually took the homeowner seriously and got him the loan mod.

Forensic Loan Audits has been the only thing consistently saving more homes than any other approach. When homeowners get a forensic loan audit done all the TILA, RESPA, HOEPA and ECOA violations are found and revealed. Fraud is also found in 79% of the loans that forensics are conducted on. When people contact Tila Solutions, they get not only a forensic loan audit, but also a free negotiations service. A Tila negotiator provides the results of that audit to the lender and real negotiations get underway. More homes have been saved from foreclosure with the use of a forensic loan audit than any other way currently known. The laws that prevented deceptive lending practices do exist. They existed at the time the bankers went on a free-for-all, carelessly lending money and misleading homeowners. There is no need to be in foreclosure, The federal laws can help you.

Tila Consultants help countless homeowners each month, determining if there is any way that the federal laws which currently do exist can help bring an end to the current deceptive practices that lenders are involved in. A Tila Solutions Consultant can be found by visiting the website at http://www.tilasolutions.com/ or by calling 1 – 307 – 459 – 0252.

Tags: Tila Solutions, Tila, Tila-now, Loan Mod, Loan Modification, Forensic Loan Audit, Loan forensics, Foreclosure, stop foreclosure, scam, predatory loans

It has been stated in a variety of newspapers over the past few years that the fees added on to foreclosure are very profitable to the lender. There have been thousands upon thousands of complaints from homeowners where they have suffered for months waiting for loan mods. Often when they started their request to receive a loan mod they were not even in foreclosure. Yet by the time the lender finally got their loan modification completed, they were in foreclosure and had to pay off as a part of the loan mod agreement all the foreclosure fees as well as many other fees. Lenders have scammed thousands of people who never needed to be in foreclosure out of dollars now mounting in the millions.

Today, many homeowners contact Tila Solutions looking for a solution to get their lender to stop disqualifying them, and stop the foreclosure process on them. Through the use of Forensic Loan Audits, Tila Solutions has been very instrumental in helping these homeowners. You can find out more about Forensic Loan audits and predatory loans at tila-now.com.

Even so, there are thousands of people who do not understand how lenders make money off the foreclosure process. Here is an excerpt from a FAQ section of a foreclosure website that may shed some light on this:

“Who pays the foreclosure fee and costs?
If the borrower brings the loan current or pays it off, the borrower is responsible to the lender for the foreclosure fee and costs.”

“ . . .If the property is sold to an outside bidder at the foreclosure auction, the foreclosure expenses will be paid by the bidder.”
You may wonder if this is a new trend. Perhaps this post from a distressed homeowner trying to pay off a foreclosure in 2006 will help you to see how this is not a new money maker for lenders:

“HELP!! Foreclosure Fees? Posted by Brad on October 10, 2006 at 08:46:51:

“We are currently 4 months behind on the mortgage. My house is in foreclosure and scheduled to sell on November 7th. I have been trying to work with the mortgage company to salvage the house. I sent in everything asked of me two weeks ago and called every day (sometimes up to three times per day) last week leaving messages for my work out agent to call me on my cell rather than the home since I work. I FINALLY got a hold of her yesterday and she said that since she could not talk to me last week, the matter had been closed out and the original late fees of $400 had now jumped to $1200 and they would again jump this Wednesday. . . .”

“Just got the agreement papers to sign today and the fees have gone up an additional $500 from what they told me they would agree to yesterday. They want 2 months mortgage today and the rest ($576) extra over the next 9 months.”

In 2007, foreclosure fees were being scrutinized and it was discovered that as many as half the loans in chapter 13 bankruptcy had questionable foreclosure fees. You can see this for yourself with this New York Times Article: http://www.nytimes.com/2007/11/06/business/06mortgage.html

That was then, and this is now: CNN Money reported that Bank of America would have to pay out 108 million dollars to settle claims that Countrywide charged homeowners inflated foreclosure fees.

So the next time you hear that your lender will modify your loan free of charge, just remember that they don’t. The trend appears to be to keep your loan mod extending month after month, while they rack up foreclosure fees. If you do get approved for a loan mod, do miss the point that the foreclosure fees are being added to your principal balance, and you will be paying them off at a “reduced interest rate” for the next two or three decades.

There are again, thousands of reports on file of Lenders convincing people that they have no rights, and that they can count on the lender for help (you know the ones suing you). Saddest of all are the stories of homeowners who lost their homes because they believed their lenders when they convinced them that they did not need professional help. So often, those foreclosures could have been stopped.

Homeowners would be wise to listen to these words from this 13-year-old boy, because he is right. (His post comes from a comment made to the CNN Money News article of June 18, 2010 entitled Foreclosure tricks cost Countrywide $108 million – his typos have purposely not been corrected.) You may recall that this was the settlement fee that Bank of America will have to pay out to victims of Countrywide’s inflated foreclosure fee practices:

“Matthew Hutchinson Jun 18
“The reason they are able to add all this extra fees is due to them counting on people either being scared, in shock or just plain stupid. They try to take advantage of the publics ignorence on these matters and they are counting all that extra ill gotten money cause they are hoping the people being foreclosed on are dumb as dirt!
“I am 13 and see that it is not right to rip off people that way, but if we did that to them in anyway we would go to jail! No justice at all, unless your rich and in charge!”

You do not have to let the bank rip you off. Just contact a Tila Solutions Consultant. They can help you. Tila Solutions uses loan Forensics to locate all the federal laws that were violated when the lender gave you the loan. Contact a Tila Solutions Consultant at 1 – 307 – 459 – 0232 or visit their website at http://www.tila-now.com . They can help you – often when nobody else can.

Tags: Tila Solutions, Tila, Tila-now, Loan Mod, Loan Modification, Forensic Loan Audit, Loan forensics, Foreclosure, stop foreclosure, scam, predatory loans