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Forensic Mortgage Audit is the New Scam Targeting Homeowners

The FBI has announced that mortgage fraud is the top concern in 2010 for their white collar crime unit. With mortgage scams wreaking havoc on homeowners across the nation, it is no surprise that the Feds are going after these professional crooks.

Homeowners who are down on their luck continue to be the targets of unscrupulous white collar criminals who are using their desperation to swindle them out of their last couple hundred dollars. Stressed homeowners are receiving offers of rescue in the mail, or they are enticed by these crooks through internet websites and ads which give 100% guarantees of success. But the major problem is that many of these offers are nothing more than mortgage scams designed to fool struggling homeowners into giving these crooks their last dime in order to save their homes.

One of the latest foreclosure scams entrapping homeowners is the mortgage audit or forensic loan document review.

Many of the firms offering this type of service are most likely reincarnated loan modification frauds with a new name or they are out of work mortgage brokers working from their kitchen tables. These unlicensed auditors are charging from $200-$7,000 for services which are essentially worthless to a homeowner looking to stop foreclosure.

More often than not, these firms are offering mortgage audits with no attorney representation, which is the primary reason why they can be of no help to homeowners. The homeowner is left with an expensive stack of papers that are essentially worthless.

The first thing homeowners should do if they are considering a forensic loan audit is to ensure that the company is a licensed law firm and in good standing with the state bar in the state where the homeowner is located. If there is no license or they are not in good standing, homeowners should steer clear.

Several mortgage and real estate professionals have been arrested or imprisoned for operating sham law firms over the past year that were nothing more than illegal fronts for their loan scams. Consumers need to beware of any websites or advertisements that claim the company is a law firm. Just because an ad online or postcard in the mail says the company is a law firm, doesn’t mean they are a licensed law firm.

In this day and age of frauds, due diligence is needed by everyone on Main Street to avoid being scammed. Trust, but always verify!

If you are considering Mortgage Litigation apply today for a 100% free and confidential consultation with a licensed attorney or call us at 1 800 688 3210 to speak with a legal assistant.

Mortgage Litigation is the only real way to get justice within the U.S. court system!

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