To the tens of thousands of taxpayers who were not capable of devoting their mortgage obligations or were facing foreclosure, the Florida mortgage assistance program has been valuable in helping them save their houses.
The job of a mortgage auditor would be to assess all documentation associated with a mortgage and discover any mistakes or violations which may have happened during the mortgage process. This includes not just the preliminary closure processes, but also rate adjustments and fees that happened later on, well after the contracts were signed.
While homeowners might have been knowledgeable about the basic principles of the loans to which they perpetrate, a mortgage inspector has an in-depth comprehension of the “small print” on loan contracts.
A very large proportion of these has been discovered to possess fraud of some kind, such as overcharges on speed adjustments, understatements of prepaid finance charges, rounding errors as well as an addition of additional principal expenses.
Others work with homeowners to successfully lower their monthly mortgage payments. With the help of a mortgage auditor, desperate homeowners can prevent foreclosure and keep their houses.
Many of them have sold their mortgages to “new” creditors that are not familiar with the contract provisions, including the interest rate adjustments. Therefore, home-owners might be paying puffed bills up to a creditor with whom they’ve never done business with before.