SHOULD YOU HAVE YOUR NEW LOAN DOCUMENTS REVIEWED BY AN ATTORNEY?

If you’ve even been half paying attention to the media coverage on mortgage litigation lately, you have probably heard about getting a loan document “audit.” This is where you pay thousands of dollars to some self-titled called forensic loan auditor to prepare a nonsensical report that identifies de minimis technical violations in your stack of loan documents from a loan you did five years ago – a report that you are told to take to an attorney and sue your lender into submission to get the loan modification that you deserve. You know that one? Well, that’s not what this article addresses. What this article does address is the question of whether it’s worth having a competent knowledgeable and qualified attorney explain the complex language of your loan documents to you before you sign on the line which is dotted. Five years ago people did not even blink at the fact that their loan officer got huge amounts of money for selling them a predatory loan.  Continue reading